Postal Service’s Net Income Falls in Fiscal 2006

ncreased fuel and labor costs drove the U.S. Postal Service's net income down to $900 million in its fiscal year ended Sept. 30.

The Postal Service earned $1.4 billion in 2005.

Fuel and transportation costs totaled $1.7 billion in 2006, or about $260 million more than anticipated, said H. Glen Walker, the postal service’s chief financial officer and executive vice president.

Total mail volume increased in by 0.7%.