USPS Reports Third Quarter Performance and Financial Results

August 8, 2007 by
Filed under: financial statements, postal finances, usps 

USPS Press Release

Board of Governors Briefed on Third Quarter Performance & Financial Results
 
National on-time performance scores for the delivery of First-Class Mail were at all-time highs in the third quarter of fiscal year 2007 for all three of the categories the Postal Service tracks. Overnight service was 96 percent on-time, up from 95 percent the same period last year. Two-day service was 93 percent on-time and three-day service was 91 percent on-time.

First-Class Mail performance, presented today during the Postal Service Board of Governors meeting, is measured independently by IBM Global Business Services. The process measures First-Class Mail from the time it is deposited into a collection box or lobby mail chute until it is delivered to a home or business.

“I’m very proud of our third quarter performance,” said Postmaster General John Potter. “Our performance is at an all time high and this is the first time that a 93 percent on-time score has been achieved for two-day national performance.”

Five Postal Service districts led the nation with a 97 percent on-time score for overnight delivery. They are the Dakotas (comprised of North and South Dakota and northwest Minnesota), Greensboro, (the northern and eastern part of North Carolina), Big Sky (the state of Montana), Louisiana, and Northland (most of Minnesota and part of Wisconsin).

During the same period, national residential customer satisfaction was at 92 percent, as measured by the Gallup Organization. Eight Postal Service districts earned scores of 96 percent or better for customer satisfaction. They are Albany (comprised of the northern, eastern and central portions of New York state), Maine, Southeast Michigan, Massachusetts, Western New York (including Buffalo and Rochester), Greater Michigan, Dakotas, and Hawkeye (most of Iowa and the Quad-City communities of Illinois).

Third Quarter Financial Results

Also during today’s Board of Governors meeting, Chief Financial Officer H. Glen Walker said revenue for the third quarter totaled $18.4 billion, up 2.9 percent from the same period last year. Expenses for the quarter totaled $19.1 billion, including $878 million that is attributable to the implementation of the Postal Accountability and Enhancement Act, signed into law the end of last year. The result was a $659 million net loss for the third quarter.

Total factor productivity (TFP) once again continued its upward trend in the third quarter, increasing by 1.8 percent, with year-to-date TFP up 1.4 percent. TFP measures the relationship between workload and resource usage. 

Postal Quarter III FY 2007 (PDF)

Comments

No Comments on USPS Reports Third Quarter Performance and Financial Results

  1. samijoe on Wed, 8th Aug 2007 3:03 pm
  2. So why treat the people who helped make this glowing report like crap while you all bask in you hidden bonuses’?

  3. kel on Wed, 8th Aug 2007 4:09 pm
  4. Must be because all the labor contract’s are mostly all signed.Doom and gloom before contract! Sunny bright future after contract!

    IT’S NOT ME,IT’S THE SYSTEM

  5. Anonymous on Thu, 9th Aug 2007 5:46 pm
  6. Make the numbers at any cost

  7. Anonymous on Thu, 9th Aug 2007 9:00 pm
  8. Total factor productivity means DOIS says you have down time.

  9. windowwonder on Fri, 10th Aug 2007 4:58 pm
  10. In the Greensboro District, employees ferry missent mail”even a few letters if necessary) from one post office to another to achieve the performance levels. Not exactly cost efficient; but the score looks excellent.

  11. windowwonder on Fri, 10th Aug 2007 5:01 pm
  12. I have seen a few letters driven over 100 miles to reach this “goal”. What a joke. Two hours of pay plus 100+ mileage for a few letters. This makes 41 cents a letter look like a real bargain.