Nelnet Q2 Profit Rises - Quick Facts

(RTTNews) - Nelnet (NNI) reported GAAP net income of $101.2 million, or $2.17 per share, for the second quarter of 2013, compared to $41.4 million, or $0.87 per share, for the same period a year ago. Excluding the derivative market value and foreign currency adjustments, net income was $71.1 million, or $1.53 per share, for the second quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report profit of $1.25 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income was $101.42 million, compared to $84.57 million, last year. Total other income was $163.09 million, compared to $87.05 million last year.

The Nelnet Board has declared a third quarter cash dividend on the company's outstanding shares of Class A common stock and Class B common stock of $0.10 per share. The company currently plans to continue making regular quarterly dividend payments, subject to future earnings, capital requirements, financial condition, and other factors.