Boston, MA 05/08/2014 (wallstreetpr) – SLM Corp (NASDAQ:SLM) has reported the results for the first quarter of the financial year 2014. The results of the company show a positive performance but, unfortunately, SLM has not succeeded in beating its previous year same quarter results. The company’s performance has fallen on a year-over-year basis. The company is not moving towards growth. If SLM Corp has to move towards progress in order to achieve greater success, it will have to perform better on a yearly, as well as quarterly basis.
1Q2014 Results Reported
The SLM Corp (NASDAQ:SLM) reported the GAAP net income of the company as a total sum equal to $284 million or $0.64 per diluted share in Q1 of 2014, while the company had reported a net income of $346 million a year ago, which is also equal to a diluted EPS of $0.74. The company has also reported core earnings equivalent to the sum of $227 million, which is also equal to diluted EPS of $0.51, which again has declined as compared to the previous year’s $283 million or $0.61 diluted earning per share.
The SLM Corp since the last year itself has been trying to improve the shareholder value of the company by way of selling residual interests in FFELP securitization trusts and also by initiating the company to be separated into two public traded companies. In 2013, the company reported a gain of $55 million from such sale of residual interests as mentioned above and also gained $29 million in debt repurchases, but no such gains have been reported by SLM in this year.
The President and Chief Executive Officer of the company, namely, John (Jack) F. Remondi, said that this was an exciting period for SLM Corp (NASDAQ:SLM) as they were preparing to begin trading as Navient and Sallie Mae. He reported that the employees of the company remained fully cooperative and helpful towards the customers to help them adjust with this transition and to help them increase their investments in higher education. The company is looking forward to leading its customers to progress and towards financial success.
