{"id":52930,"date":"2017-02-09T20:21:53","date_gmt":"2017-02-10T01:21:53","guid":{"rendered":"https:\/\/www.21cpw.com\/?p=52930"},"modified":"2017-02-09T20:45:38","modified_gmt":"2017-02-10T01:45:38","slug":"usps-posts-net-loss-of-approximately-200-million-for-fy-2017s-first-quarter","status":"publish","type":"post","link":"https:\/\/www.21cpw.com\/usps-posts-net-loss-of-approximately-200-million-for-fy-2017s-first-quarter\/","title":{"rendered":"USPS posts net loss of approximately $200 million for\u00a0FY 2017\u2019s first quarter"},"content":{"rendered":"
<\/i><\/a><\/span>\n<\/i><\/a><\/span>\n<\/i><\/a><\/span><\/div><\/div><\/div>

Madison, WI, Letter Carrier Jason Birmingham delivers mail and packages during the first quarter, when USPS shipping revenue increased 14.7 percent compared to the same period one year earlier.<\/span><\/em><\/p><\/div>Excluding the effects of a $1.7 billion change in its workers\u2019 compensation liability due to fluctuations in interest rates, the Postal Service has posted a net loss of approximately $200 million for fiscal 2017\u2019s first quarter (Oct. 1-Dec. 31, 2016).<\/p>\n

USPS also reported that net income for the quarter was approximately $1.4 billion. Controllable income was $522 million, a decrease of $735 million when compared to the same period last year.<\/p>\n

Operating revenue decreased by $155 million, driven by the April 2016 expiration<\/a><\/span> of the exigent surcharge, which caused revenue to decline by approximately $570 million when compared to fiscal 2016\u2019s first quarter.<\/p>\n

The exigent surcharge expiration and continuing migration to electronic communications also contributed to a 7.5 percent decrease in First-Class Mail revenue compared to the same period one year earlier.<\/p>\n

Due to a record holiday season<\/a><\/span>, shipping and package revenue grew by $701 million, or 14.7 percent, when compared to the same period last year.<\/p>\n

\"\"\u201cOur current financial situation is serious, but solvable,\u201d said PMG Megan J. Brennan.<\/p>\n

She added that enactment of legislation<\/a><\/span> to improve the USPS business model, combined with a favorable outcome of the Postal Regulatory Commission\u2019s 10-year pricing system review and continued aggressive management actions, would allow the Postal Service to return to financial stability.<\/p><\/blockquote>\n

The Postal Service\u2019s Feb. 9 news release has more information:
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