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SECOND QUARTER FINANCIAL REPORT The Postal Service's Chief Financial Officer H. Glen Walker reported to the Board of Governors that a $925 million net loss was recorded during the second quarter of the fiscal year (Jan. 1 through March 31) due largely to expenses relating to implementing the Postal Accountability and Enhancement Act, signed into law Dec. 20, 2006. Revenue for the second quarter totaled $18.5 billion, a decrease of 0.8 percent from the same period last year. The decrease was driven by a 0.6 percent decrease in mail volume for the second quarter. Expenses totaled $19.4 billion, an increase of $1.6 billion, or 9.2 percent, over last year's second quarter expenses. The largest contributor to the expense increase was $1.35 billion for the funding of retiree health benefits required by the new postal law. ADDITIONAL BARCODE SORTERS The Board of Governors has approved funding to purchase additional Delivery Bar Code Sorter equipment for sorting letter mail in the sequence in which carriers deliver it. The purchase consists of 110 new machines as well as 394 stacker modules for existing ones. Delivery Bar Code Sorters reduce the manual sorting of letter mail. RAMPING UP R&D The Postal Service is meeting its performance challenges head on with a $51 million contract with Serco Inc., Vienna, VA, for engineering support services, including support for research and development of new technologies. The contract also provides for technical, project management and information technology services, as well as quality assurance consulting work and testing and evaluation of future mail-processing equipment. The contract represents the Postal Service's efforts to continually enhance and develop technologies that improve operational efficiencies and customer service and drive down costs, according to Walter O'Tormey, vice president of Engineering for the Postal Service. "Being at the cutting edge in mail-processing technology has enabled the Postal Service to greatly improve productivity and customer service in the past, and it will continue to do so in the future," said O'Tormey. |
MailPro FYI Volume 1 Number 3 Editorial Design John E. Potter Anita Bizzotto Thomas G. Day Michael K. Plunkett Joanne Giordano MailPro © 2007 United States Postal Service. The following are among the many trademarks owned by the United States Postal Service: USPS®, U.S. Postal Service®, United States Postal Service®, Postal Service™, Post Office™, Priority Mail®, Express Mail®, Standard Mail™, First-Class Mail®, Registered Mail™, Certified Mail™, Delivery Confirmation™, Signature Confirmation™, ZIP Code™, Click-N-Ship®, NetPost® and The Postal Store®. This list is not a comprehensive list of all Postal Service marks. Send address corrections and
subscription requests to: Send stories, photos and editorial suggestions to: See our Privacy Policy on usps.com Online services: PCC website/PCC Insider: www.usps.com/pcc |
MOVING AT LIGHTSPEED The Postal Service offers special edition Express Mail envelopes wrapped in the artwork of a galaxy far, far away. This set, available only at usps.com, includes three pre-paid envelopes featuring artwork images of Yoda, Darth Vader and Obi Wan Kenobi, as well as the new Marine One Express Mail stamp. In addition, the set of 15 Star Wars stamps is available for purchase in Post Offices, at usps.com and by calling 1-800-STAMP-24. |
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