On Thursday, Jan. 18, educational-finance firm SLM (NYSE:SLM), or Sallie Mae, released fourth-quarter and year-end earnings for the period ended Dec. 31, 2006. Here are the quick-and-dirty details for the quarter.

  • Core earnings total revenue grew 15.6% to $846 million. Derivative-related accounting accounts for most of the difference between core and GAAP figures; check out the company's earnings press release for further details.
  • Net interest income grew 15%, even though the net interest margin decreased slightly to 1.45%.
  • Total core earnings advanced 17.5%.

(Figures in millions, except per-share data)

Income Statement Highlights

Q4 2006

Q4 2005

Change

Core Earnings Total Revenue

$846

$732

15.6%

Core Earnings Net Interest Income

$651

$566

15.0%

Core Earnings Net Profit

$326

$284

14.8%

Core Earnings EPS

$0.74

$0.63

17.5%

**Figures are adjusted by Sallie Mae and represent its calculation of Core Earnings.

Get back to basics with a look at the income statement.

Ratio Checkup

Q4 2006

Q4 2005

Change*

Net Interest Margin

1.45%

1.71%

(0.26%)

Return on Average Assets

0.84%

0.84%

0.00%

*Expressed in percentage points.
ROA is based on Core Earnings figures.

Find out more about bank ratios.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Investments

$11,949

$10,574

13.0%

Loans

$97,228

$83,742

16.1%



Liabilities

Q4 2006

Q4 2005

Change

Long-term Borrowings

$104,559

$88,119

18.7%

Total Liabilities

$111,766

$95,538

17.0%



Learn about bank assets and bank liabilities.

Related Companies:

  • First Marblehead (NYSE:FMD)
  • Student Loan Corp (NYSE:STU)

Related Foolishness:

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Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.