Sallie Mae Reports Q4 EPS $.75 vs. $.71

Sallie Mae SLM today announced its fourth-quarter and full-year operating results, achieving higher earnings and substantially enhancing its liquidity and capital position from one year ago. Sallie Mae's core earnings were $401 million ($.75 diluted earnings per share) for the fourth-quarter 2010, compared to $268 million ($.44 diluted earnings per share) for the year-ago quarter. For the full-year 2010, core earnings rose to $1.03 billion ($1.92 per diluted share), compared to $807 million ($1.40 per diluted share) in 2009. On a GAAP basis, fourth-quarter 2010 net income was $447 million ($.84 diluted earnings per share), vs. $309 million ($.52 diluted earnings per share) in the same quarter last year. For the full-year 2010, GAAP net income was $530 million ($.94 per diluted share), compared to $324 million ($.38 per diluted share) in 2009.