Latest Postal Service Report Shows Consistency Across Network

FY2022 fourth quarter service performance scores covering July 1 through Aug. 12 included: *First-Class Mail: 93.0 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Marketing Mail: 94.3 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter. *Periodicals: 86.5 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal third quarter.

Reported net income for the quarter was $701 million, or $1.59 per diluted share, compared to $515 million, or $1.17 per diluted share, last year. Earnings per share increased $0.17 due to a net income tax benefit of $74 million, as a result of the new tax laws. Excluding this benefit, net income grew 22%. Net income for the first 24 weeks of fiscal year 2018 was $1.34 billion, or $3.04 per diluted share, compared to $1.06 billion, or $2.41 per diluted share, last year. For the four-week reporting month of February, ended March 4, 2018, the Company reported net sales of $10.21 billion, an increase of 12.8 percent from $9.05 billion during the similar period last year. For the twenty-six week period ended March 4, 2018, net sales were $68.51 billion, an increase of 12.0 percent from $61.18 billion during the similar period last year. Click Read More below for additional information.

Pearson is announcing that it has completed the sale of Global Education (GEDU) to Puxin Education. The disposal, together with the sale of associated property assets, is expected to generate gross cash proceeds to Pearson in the region of $80m. GEDU is a leading provider of English language training and test preparation for Chinese students wishing to study abroad. In 2016 the business served 64,000 learners with revenue of £78m and an adjusted operating loss of £4m. In 2016 GEDU had approximately 1,900 FTE employees. Click Read More below for additional detail.