The USPS reported a net loss of $1.6 ($1.592) billion for April 2012 according to preliminary (unaudited) data submitted to the Postal Regulatory Commission (PRC). USPS is attributing $1.017 billion of that amount to the Postal Service’s Retiree Health Benefit pre-funding expense. USPS is also reporting a year-to-date fiscal year loss of $8.1 billion ($8.056). The same period last year (SPLY) USPS reported a net operating loss of $3.304 billion– a difference of $4.752 Billion.
According to the report, ” The $7,117 Billion Year-to-date Retirement Health Benefit expense represents 7/12 and 7/10 of the $5.6 Billion due on September 30, 2012 as required by Public Law 109-435 and the $5.5 billion due on or before August 1, 2012 as required by Pubic Law 109-435 as amended by Public law 112-74. “
In previous months USPS reported a loss of $795 million in March 2012; $1.108 billion in February 2012 ; $1.262 billion in January 2012; $1.422 billion for the month of December 2011, Nov. $1.267 billion and Oct. $139 million).