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U.S. Postal Service Records Second Quarter Loss of $1.9 Billion

News release: ” The U.S. Postal Service ended the second quarter of its 2014 fiscal year (Jan. 1, 2014 – March 31, 2014) with a net loss of $1.9 billion. This marks the 20th of the last 22 quarters it has sustained a loss…The Postal Service also is working to increase its package delivery business by offering greater customer benefits such as improved tracking and Sunday and day-specific delivery. Shipping and Package revenue increased $252 million or 8 percent over 2013 second quarter results, fueled by the growth of ecommerce. The Postal Service continues to capitalize on its competitive advantage in providing “last mile” service, resulting in a 26.4 percent increase in revenue from Parcel Return and Parcel Select Service over the same period last year…As recorded in the Postal Service’s second quarter results, the volume of high-margin First-Class Mail continued to decline, a major contributor to the Postal Service’s precarious financial position. If a downturn in the economy or other circumstance should further stress the Postal Service’s cash flow, the agency would implement contingency plans to ensure that all mail and package deliveries are completed and that employees and suppliers are paid ahead of the federal government.”

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