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Building momentum

USPS revenue grows as package, mail volumes increase

Chief Financial Officer Joe Corbett
Chief Financial Officer Joe Corbett

The Postal Service’s efforts to grow its business helped boost revenue last quarter, Chief Financial Officer Joe Corbett says in his latest “Dollars and Change” video.

“Our sales and marketing efforts, our package offerings and our service reliability are paying off,” Corbett says.

USPS ended the quarter (Oct. 1-Dec. 31, 2014) with controllable income up $400 million compared to the same period one year earlier.

Shipping and package volume grew 12.8 percent, driven byrecord holiday package deliveries, while Standard Mail rose 3.5 percent.

“It’s clear marketers see the value of using direct mail to grow their businesses,” Corbett says.

Despite the strong performance in controllable income, the Postal Service recorded a $754 million net loss due to mandated payments to the Post Service Retiree Health Benefit Fund and workers’ compensation expenses.

Corbett also says the Postal Service is moving forward with a plan to purchase new delivery vehicles and make other investments.

“These investments have been delayed too long,” he says.

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