My name is Mike Duncan, and for the past two years I have been honored to serve as Chairman of the Board of Governors for the United States Postal Service. Throughout my life, I have looked for ways to help strengthen and support institutions important to American communities. That’s why I spent five years serving on the Board of the Tennessee Valley Authority, and why I serve on the Board of Alice Lloyd College near my home in Kentucky. When I accepted this position, I did so because of my admiration for the United States Postal Service and its public service mission. Click read more below for the rest of the statement.

Total consolidated revenues increased 44.8 percent, or 271.2 million, to $877.3 million, compared with total consolidated revenues of $605.6 million in the prior year period, driven by ecommerce growth of 59.7 percent including revenue contributions from PersonalizationMall.com (“PMall”), which the Company acquired in August 2020. Excluding the contribution from PMall, total net revenues increased 24.7 percent and e-commerce net revenues increased 34.6 percent compared with the prior year period. Gross profit margin for the quarter increased 100 basis points to 45.4 percent, compared with 44.4 percent in the prior year period. Operating expenses as a percent of total revenues was 28.6 percent, compared with 28.0 percent in the prior year period. Excluding the impacts of the Company’s non-qualified deferred 401k compensation plan and one-time costs primarily associated with its acquisition of PMall, operating expenses, as a percentage of total revenues was 28.3 percent in the quarter. Net income for the quarter increased 53.3 percent, or $39.5 million, to $113.7 million, or $1.71 per diluted share, compared with net income of $74.2 million or $1.12 per diluted share in the prior year period. Adjusted net income for the quarter increased 54.1 percent, or $40.1 million, to $114.2 million, or 41.72 per diluted share.

The overwhelming majority of businesses are adopting artificial intelligence into their customer communications. According to a new report based on surveys of businesses and consumers from communications platform Sinch, 97% of businesses plan to use AI in their customer communications this year, with top investment areas for 2025 including AI voice assistants (63%), AI-powered video chats (48%) and AI-driven chatbots (43%). Sixty percent of financial services respondents and 57% from healthcare say they’ll invest in AI chatbots, which is higher than the average of 46%. Only 29% of retailers said they’d invest in other messaging apps like WhatsApp and Messenger, which is lower than the 42% average across industries surveyed by Sinch.