Fiscal Year 2007 Results

The Postal Service also announced its financial results for Fiscal Year (FY) 2007, which ended Sept. 30. USPS concluded the fiscal year with a $5.1 billion net loss, attrib­utable to mandatory funding requirements in the Postal Act of 2006. The year-end loss is about $300 million less than projected earlier in the year.

Total revenue in FY 2007 was $74.9 billion, and expenses totaled approximately $80 billion. Mail volume was 212 billion pieces. Without the financial impacts of the law, the Postal Service would have ended the year with net income of $1.6 billion.

The Postal Service recorded an eighth consecutive year of productivity growth in FY 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 $1.2 billion.