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USPS posts $3.8 billion loss for fiscal year

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Washington, D.C.—The U.S. Postal Service announced a net loss of $3.8 billion for its 2009 fiscal year ended Sept. 30, compared with a loss of $2.8 billion the previous fiscal year. However, the red ink was much less than forecast due primarily to a deferred $4 billion employee-benefit contribution.

The economic downturn, combined with the movement to electronic forms of communication, also affected operating revenue, which declined 9% to $68.7 billion, from $74.9 billion in fiscal 2008.

Revenue from standard mail—used most often by direct marketers—fell to $17.4 billion, off 54.4% from $38.2 billion in fiscal 2008.

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