In its fiscal first quarter earnings results announced today, the USPS reported controllable income of $353 million, which was down 33% annually compared to $522 million a year ago. USPS said that this decrease was driven by various factors it has cited in the past, including: First-Class and Marketing Mail volume declines, a higher normal cost of retiree health benefits of $140 million, and higher transportation expenses of $109 million.

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