Tag: USA

Record levels of revenue and volume helped the U.S. Postal Service conclude its 2006 fiscal year with net income of USD900 million, but increases in fuel and labor costs limited the financial success.
The FY 2006 year-end financial figures were released Nov. 15 by H. Glen Walker, USPS chief financial officer and executive vice president, during the November meeting of the Board of Governors in Washington.
The postal service’s 2006 fiscal year covered Oct. 1, 2005, to Sept. 30. Total revenue was USD72.8 billion, up 4.0 percent, while total expenses rose 4.9 percent from the previous year to USD71.9 billion. The net deficiency, after including a USD3 billion escrow allocation as required by law, was USD2.1 billion.

The FY2006 year-end financial figures were released today by Chief Financial Officer and Executive Vice President H. Glen Walker during the Board of Governors’ meeting. Total revenue was USD72.8 billion, and total expenses were USD71.9 billion, a 4.9 percent increase over the previous year. The net deficiency, after including a USD3 billion escrow allocation, as required by law, was USD2.1 billion. While the mail volume decline continued for First-Class Mail (0.5 percent decrease from the previous year), Walker said growth in Standard and Priority Mail helped increase overall mail volume to 213 billion pieces. Walker also reported that the fiscal year ended with a record consecutive year in positive total factor productivity. Total Factor Productivity increased by 0.4 percent in FY2006.