Postal Service Loses $223 Million in Year
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Associated Press
WASHINGTON — The U.S. Postal Service finished fiscal year 1987 with a $223-million loss, the agency reported Tuesday.
Total revenue for the year, which ended Sept. 30, was $32.5 billion, while spending was $32.7 billion, according to Crocker Nevin of the agency’s governing board. That compared with 1986, when the agency was $305 million in the black, and 1985, when it lost $251 million.
The Postal Service is now engaged in the lengthy process of raising rates, with higher mailing fees expected to take effect next April.
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