Nelnet Q3 net income decreases

Nelnet, Inc. has reported net income attributable to the company of $36.83 million, or $0.77 per diluted share, for the third quarter ended September 30, 2012, compared to $47.45 million, or $0.98 per diluted share, for the same quarter ended September 30, 2011.

Net interest income for the third quarter ended September 30, 2012 was $85.27 million, compared to $96.76 million for the same quarter ended September 30, 2011.

Net income attributable to the company for the nine months ended September 30, 2012 was $121.36 million, or $2.55 per diluted share, compared to $139.46 million, or $2.87 per diluted share, for the same period ended September 30, 2011.

Net interest income for the nine months ended September 30, 2012 was $254.69 million, compared to $271.27 million for the same period ended September 30, 2011.

Mike Dunlap, Nelnet Chairman and CEO, said: "We are consistently delivering strong results and making progress toward key objectives: Growing our core businesses, driving diversification around our core, and improving our customer's experiences. More specifically, we are excited to be ranked as the top servicer for the Department of Education for the past twelve-month period, which will significantly increase our servicing volume, and to have opportunities to purchase additional student loans."