US Postal Service records $384 mln loss in 1st quarter - Reuters
The U.S. Postal Service reported a $384 million net loss for the first quarter ended Dec. 31 due to plummeting mail volume brought on by a lingering recession, and warned that if current trends continue it may post a larger loss in fiscal 2009 than 2008.
Mail volume dropped at an increased rate for the eighth consecutive quarter, falling 9.3 percent from a year ago.
The U.S. Postal Service reported a $384 million net loss for the first quarter ended Dec. 31 due to plummeting mail volume brought on by a lingering recession, and warned that if current trends continue it may post a larger loss in fiscal 2009 than 2008.
Mail volume dropped at an increased rate for the eighth consecutive quarter, falling 9.3 percent from a year ago.
