Nelnet Q1 Profit Rises - Quick Facts

(RTTNews) - Nelnet (NNI) reported net income of $73.8 million, or $1.59 per share, for the first quarter of 2014, compared to $68.1 million, or $1.46 per share, a year ago. Excluding derivative market value and foreign currency adjustments, net income was $72.6 million, or $1.56 per share, for the first quarter of 2014.

The company said the increase in net income was primarily due to an increase in net income from the company's Student Loan and Guaranty Servicing segment, an increase in income from providing investment advisory services, and an increase in gains from investment activities.

Net interest income was $98.9 million, compared to $98.8 million, a year ago. Total other income was $125.91 million, compared to $119.86 million, last year.

The Nelnet Board has declared a second quarter cash dividend on the company's outstanding shares of Class A common stock and Class B common stock of $0.10 per share.