The U.S. Postal Service ended the first three months of its 2013 fiscal year (Oct. 1 – Dec. 31, 2012) with a net loss of $1.3 billion. Continued growth in Shipping and Package revenue (+4.7%) and increased efficiency helped mitigate but could not fully offset the financial effects of continued First-Class Mail volume declines and costs that are beyond Postal Service management control.
USPS FY 2013 1st Quarter Financials Presentation by PostalReporter.com
So the USPS actually MADE a $100 million profit in Q1!
They report a $1.3 billion loss, but that includes $1.4 billion in FRHB that they did not pay. They did not pay the money, yet they count it as an expense?