According to USPS Newslink :

USPS revenues of $5.64 billion for February were 2.2% or $121 million over plan and $292 million or 5.5% more than February 2005. Expenses were over plan by $117 million or 2.1%, producing a net income of $95 million before the escrow allocation.

Contributing to this month’s performance were the new postage rates implemented Jan. 8, which provided a 5.4% revenue increase needed to fulfill the requirement of Public Law 108-18, The Postal Civil Service Retirement System (CSRS) Funding Act, enacted in 2003. This law requires the Postal Service to place $3.1 billion in an escrow account by Sept. 30, 2006, to cover the difference between the CSRS retirement costs before and after the law’s implementation. We are allocating $250 million a month for purposes of assessing our financial position. After the escrow allocation, our financial position for February shifts to a net deficiency of $155 million.

February’s total mail volume was 0.2% more than last year. Mail volumes in all of the major mail categories except First-Class Mail, Periodicals and International Mail were above their February 2005 levels.

Year-to-date, net income before escrow allocation is $1.3 billion — $20 million under plan. Year-to-date, the net gain after escrow allocation is $48 million.

Year-to-date, revenue is 2.1% over the same period last year and expenses are 4% above February 2005 postings. Revenues, year-to-date, are $97 million over plan. Expenses, year-to-date, are $117 million above plan due to personnel compensation plan overruns. The compensation plan overrun is driven by workhours that are 9.6 million hours, or 1.6%, above plan.

Year-to-date, total mail volume is 62 million pieces more than the same period last year. Year-to-date, First-Class Mail revenue is below last year by $4 million. Standard Mail revenue is up 2.9% or $230 million over last year. Priority Mail revenue is up 9.6% or $194 million over last year.

Full results are posted on USPS.com at usps.com/financials/_pdf/FY2006_February.pdf