morning call... 04 25 2007

SLM -$0.57, $16 short of the estimate. $16 -loss provision incrased 165% to 199, account for 14 cents, due to moving one of the call center from Nevada to Indiana -higher expenses accounted for the remaining 2 cents -EPS keep dropping -opearitng margin keep dropping in the past 3 years -company price dropped 53 cents Net charge off?