USPS financial results for 2007
The Postal Service announced its financial results for Fiscal Year 2007, which ended Sept. 30. The Postal Service concluded the fiscal year with a USD 5.1 billion net loss, attributable to mandatory funding requirements in the Postal Act of 2006 (see chart). The year-end loss is about USD 300 million less than projected earlier in the year.
“It’s important to note that we not only achieved our plan, which had to be adjusted to reflect the new law, but we overcame a slow start and did better than our mid-year projection,” said Potter. Without the financial impacts of the law, the Postal Service would have ended the year with net income of USD 1.6 billion.
Total revenue in FY 2007 was USD 74.9 billion and expenses totaled approximately USD 80 billion. Mail volume was 212 billion pieces.
The Postal Service recorded an eighth consecutive year of productivity growth in fiscal 2007. Total Factor Productivity, which measures the relationship between workload and resource usage, was up 1.7 percent over FY 2006. Productivity was aided by a reduction of 36 million work hours, which is equivalent to USD 1.2 billion.
Record On-Time Performance
National on-time performance scores for the delivery of First-Class Mail hit all-time highs in the fourth quarter of FY 2007 for all three categories the Postal Service tracks. National overnight performance was 96 percent on-time in the final quarter —a first for the last quarter and for two consecutive quarters.
National two-day and three-day performance also hit all-time highs of 94 percent and 93 percent respectively.
First-Class Mail performance is measured independently by IBM Global Business Services. The process measures First-Class Mail from the time it is deposited into a collection box until it is delivered to a home or business.
