UPDATE 1-Nelnet posts first-quarter loss

(Recasts, adds details)

May 12 (Reuters) - Nelnet Inc (NNI.N), a student loans provider, swung to a first-quarter loss, mainly due to certain restructuring charges and losses arising from the sale of student loans.

The company posted a first-quarter loss of $69.8 million, or $1.42 a share, compared with a net income of $14.8 million, or 29 cents a share, a year earlier.

Excluding the restructuring charge, losses from sale of loans and reduction in value of investments, the lender posted net income of $15.3 million, or 31 cents a share, for the quarter.

Analysts polled by Reuters Estimates forecast first-quarter loss of 34 cents a share, excluding special items.

"Our results in the first quarter reflect the further deterioration of the financial markets and environment for student loans," CEO, Mike Dunlap said.

Fee-based revenue, which represented about 83 percent of total revenues, was $78.8 million for the quarter, compared with $76.2 million in the year-ago quarter.

Nelnet shares closed at $9.93 on the New York Stock Exchange Friday. (Reporting by Dinesh Nair; Editing by Anil D'Silva)