Insurance company Nationwide Financial Services has reported net revenue of $1.06 billion for the fourth quarter of 2007, compared to $1.16 billion for the fourth quarter of 2006.

Net income was $74.2 million, or $0.53 per diluted share for the fourth quarter of 2007, compared to $158.4 million, or $1.06 per diluted share for the fourth quarter of 2006.

For the full-year period of 2007, net revenue was $4.52 billion, compared to net revenue of $4.56 billion for the full-year period of 2006. Net income was $626.8 million, or $4.37 per diluted share for the full-year period of 2007, compared to $724 million, or $4.80 per diluted share for the full-year period of 2006.

Jerry Jurgensen, CEO, said: Nationwide Financial reported strong operating performance in the fourth quarter, underscoring the progress we’ve made toward improving our business model. We had record net operating revenues and net operating earnings per share, among other milestones.