USPS turns profit in October
Having some $11 billion worth of defaulted payments to the U.S. Treasury for retiree health benefits may seek like a black mark on the U.S. Postal Service. Yet the agency has continually asserted its commitment to returning to financial solvency, a path of action that spurred some good news concerning the USPS' performance in October. Businesses that want to cut costs and boost productivity can look to address verification software for help.
According to Post and Parcel, the USPS recorded a $61 million profit in October while also seeing its mail and service revenues increase by 5.6 percent year-over-year. The encouraging news doesn't end there - the USPS also said it projects it will be able to halve its losses to $7.6 billion for fiscal year 2013.
That the USPS will operate in the red by some $8 billion may not seem optimal at first glance, but considering its recorded losses for FY 2012 stood at around $14 billion, the forecast for FY 2013 seems to be a step in the right direction.
October total mail volumes also grew by 9 percent compared to 2011. Standard Mail was a driving force behind the growth, its mail volumes increased 16.1 percent year-over-year.