Sour Q1 for USPS; Could Default on Obligations
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Mailing services revenue of $15.3 billion decreased $520 million, or 3.3 percent, in the first quarter of 2011, compared to the same period a year ago. Mailing services volume reached 45.9 billion, but revenues declined despite the increase in overall volume. The increase in revenue from Standard mail was not sufficient to offset the loss of revenue from the reduced volume of First Class mail.
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