On Tuesday, the United States Postal Service announced the end of its 2011 fiscal year with a loss of $5.1 billion. Declining mail volume, particularly First Class mail, was attributed as the primary reason for the loss, despite increased revenue in other areas.
Overall mail volume decreased by 3 billion pieces from 2010, with first class mail declining 5.8 percent, or $2 billion, to $32.2 billion for the year. Other services, such as Priority Mail and Standard Mail, saw revenue increases of 2.6 to 6.3 percent respectively; actual revenue from these services, $530 million and $495 million, was still well below the losses in other categories.
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.