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 Back to 3rd Qtr News
USPS Ends First Half in the Black July 2004 The United States Postal Service ended the first half of its fiscal year $1.65 billion in the black, the agency reported. USPS Chief Financial Officer Richard Strasser said one of the main reasons for the surplus was a 4.3 percent productivity increase. Revenue from the first half of the fiscal year was $35.52 billion, 1.4 percent above projections, while expenses were 1.7 percent under the agency's budget plan. Strasser noted the expense reduction has been quite an accomplishment considering the rise of fuel prices and severe winter weather on the East coast. Additionally, the post office has seen a dramatic rise in health care costs that will likely exceed $500 million by the end of the year. Even more impressive is the dramatic budget differences over last year's numbers. The USPS finished last year with a $676 million loss, although it feared a greater loss because of the anthrax attacks and a soft economy. Meanwhile, total mail volume was up only slightly at the end of the first quarter, 0.8 percent more than this time last year. Standard Mail volume was up five percent over this time last year. "Standard mail is virtually the only large growth category that we've had in several recent quarters," said Malcolm Harris, USPS manager of demand forecasting and economic analysis. Among standard mail, the Regular-Automation Presort category saw the greatest volume increase, 6.5 percent growth over last year. Bar coded letters and postcards make up the majority of this category. Likewise, Enhanced Carrier Route volume grew at a rate of 4.8 percent. Harris said this figure is especially significant because the category has weakened in the last 10 years as direct mail is becoming increasingly targeted. The increases in Standard mail come as good news for Consolidated Mailing and its clients. The company is an industry leader in Regular-Automation Presort and Enhanced Carrier Route mail. Consolidated is the only mailer in Kansas with an in-house resident list for the entire state and most of Missouri. Consolidated Mailing has also upgraded its presort software for the most accurate processing and optimum postage discounts.
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