Nelnet (NNI) reported fourth-quarter GAAP net income of $56.6 million, or $1.20 per share, compared to $64.9 million, or $1.37 per share in the prior year.
The results include Include a $2.8 million, or $0.03 per share after tax, non-cash impairment charge in the company's enrollment services segment.
Excluding derivative market value and foreign currency adjustments, net income for the quarter declined to $1.05 per share from $1.22 per share in the comparable quarter a year ago.
Net interest income for the quarter declined to $90.5 million from $93.2 million in the prior year quarter, while total other income was $7.0 million, down from $12.2 million in year ago quarter.
During the fourth quarter of 2012, the company repurchased and retired 747 thousand shares of Class A common stock, for $21.3 million, or an average price of $28.53 per share.
In addition. Nelnet will pay a first quarter dividend on Class A common stock and Class B common stock of $0.10 per share. The dividend is payable, Friday, March 15, 2013, to shareholders of record on Friday, March 1, 2013
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