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Mailers Technical Advisory Committee Meeting

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H. Glen Walker. Chief Financial Officer & Executive Vice President. FINANCIAL UPDATE ... National Day of Mourning = 3.4M Workhours ($122M) FINANCIAL UPDATE ... – PowerPoint PPT presentation

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Title: Mailers Technical Advisory Committee Meeting


1
MTAC
FINANCIAL UPDATE
  • Mailers Technical Advisory Committee Meeting
  • May 16, 2007

H. Glen Walker Chief Financial Officer
Executive Vice President
2
Income Statement Qtr 2, FY 2007
3
Income Statement Qtr 2 YTD, FY 2007
4
Volume Performance Qtr 2 YTD, FY 2007
5
First-Class Mail Volume
FY 2005
FY 2006
FY 2007
6
Standard Mail Volume
FY 2005
FY 2006
FY 2007
7
Periodicals Volume
FY 2005
FY 2006
FY 2007
8
Revenue Variance to SPLY
9
Total Factor Productivity
10
Variance to Workhour Savings YTD March
Variance
Plan
Actual
Workhour Savings
9.1
14.8
5.7
Salaries Benefits Savings
328
533
205
Less Labor Mix Savings
-105
Total Salaries Benefits Variance to Plan
100
National Day of Mourning 3.4M Workhours (122M)
(Data in Millions)
11
Expense Drivers to SPLY Variance
12
Statements of Cash Flow
13
FY 2007 Debt through Qtr 2 YTD
14
Risks to Outlook for Quarters 3 and 4
  • Economy
  • Potential Impact from May Rate Increase
  • Labor Agreements / Workhour Reductions
  • Workers Compensation

15
Outlook for Quarters 3 and 4
Risk Level
Plan
Volume
Medium to High
-1.7 to SPLY
Revenue
Medium to High
37.3B
Medium

Expense
39.1B
Medium to High
-1.8B
Net Loss
Includes Legislative Changes
16
Actions to Manage Risks
  • Workhour Controls
  • Reduce Overtime
  • Full Use of Negotiated Labor Flexibility
  • Tight Cost Control

17
Summary of Costs From New Law FY 2008
  • Eliminate CSRS Contribution 1.5
  • Eliminate Escrow Payment 3.6
  • Scheduled Payment to RHBF (5.6)
  • Removal of Interest Income on Escrow (0.3)
  • Additional SOX and Administrative (0.2)
  • Direct Impact of Reform on Net Income (1.0)

18
MTAC
FINANCIAL UPDATE
  • Mailers Technical Advisory Committee Meeting
  • May 16, 2007

H. Glen Walker Chief Financial Officer
Executive Vice President
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