Good News Continues as Operating Profit for First Half of Year Exceeds All of Last Year
Web News Article #: 099-2015
05/11/2015 – The Postal Service’s operating profit for the second quarter of Fiscal Year 2015 totals $313 million, according to an unaudited financial report released May 8. This puts operating profits for the first half of the year over $1.4 billion – more than all of last year’s operating profit.
Although the Postal Service sings the blues in press releases and media reports about a “fiscal hole, $90 billion deep,” there were increases in shipping and packaging volume – up 14.4 percent – compared to the same time last year.
The “hole” that USPS refers to only exists on paper. Thanks to a 2006 mandate by a lame-duck Congress, the Postal Service is required to pre-fund retiree health benefits 75 years into the future, something no other public entity or private firm is required to do.
“These steadily increasing profits are good news for the Postal Service and for the people,” said APWU President Mark Dimondstein. “There is no justification for management to continue to degrade service standards and shut postal facilities.” “Now is a perfect time to strengthen – not dismantle – our national treasure,” he said.
Source: USPS Second Quarter Operating Profit Totals $313 Million | APWU