Regulator: USPS logs first operational profit in six years

It’s a good news, bad news situation for the cash-strapped U.S. Postal Service, the agency’s own regulator said Wednesday. 

The Postal Regulatory Commission said in its annual financial report that the service’s $1.4 billion operating profit in fiscal 2014 was its first in six years. 

{mosads}The agency lost $5.5 billion in all, because of required expenses like a prepayment for future retiree healthcare, putting its red ink at $51.7 billion since fiscal 2007.

The USPS, its unions and other stakeholders applauded the operating profit when the service announced it last year. 

But the postal regulator reiterated on Tuesday that there wasn’t much more the agency can do to streamline its operations. Top postal officials have said as much, as they continue to ask Congress to pass legislation giving them more latitude to both grow new revenue streams and make cuts elsewhere.