Eaton Vance Floating-Rate Income Trust Report Of Earnings

BOSTON, July 13, 2012 /PRNewswire/ -- Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the fiscal year ended May 31, 2012. 

For the three months ended May 31, 2012, the Fund had net investment income of $9,961,955 ($0.265 per common share).  From this amount, the Fund paid dividends on preferred shares of $300,521 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $9,661,434 or $0.257 per common share.  For the year ended May 31, 2012, the Fund had net investment income of $38,772,685 ($1.034 per common share).  From this amount, the Fund paid dividends on preferred shares of $1,186,482 (equal to $0.032 for each common share), resulting in net investment income after the preferred dividends of $37,586,203 or $1.002 per common share.  In comparison, for the three months ended May 31, 2011, the Fund had net investment income of $9,357,579 ($0.249 per common share).  From this amount, the Fund paid dividends on preferred shares of $299,838 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $9,057,741 or $0.241 per common share.  For the year ended May 31, 2011, the Fund had net investment income of $37,113,803 ($0.991 per common share).  From this amount, the Fund paid dividends on preferred shares of $1,225,305 (equal to $0.033 for each common share), resulting in net investment income after the preferred dividends of $35,888,498 or $0.958 per common share.

Net realized and unrealized losses for the three months ended May 31, 2012 were $2,933,936 ($0.084 per common share).  The Fund's net realized and unrealized losses for the year ended May 31, 2012 were $13,578,032 ($0.368 per common share).  In comparison, net realized and unrealized losses for the three months ended May 31, 2011 were $2,500,037 ($0.064 per common share). The Fund's net realized and unrealized gains for the year ended May 31, 2011 were $40,409,778 ($1.082 per common share).

On May 31, 2012, net assets of the Fund applicable to common shares were $582,010,790.  The net asset value per common share on May 31, 2012 was $15.51 based on 37,512,921 common shares outstanding.  In comparison, on May 31, 2011, net assets of the Fund applicable to common shares were $595,889,843.  The net asset value per common share on May 31, 2011 was $15.90 based on 37,480,847 common shares outstanding. 

The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors – Closed-End Funds"). Fund portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end. 

The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), based in Boston, one of the oldest investment management firms in the United States, with a history dating back to 1924. Eaton Vance and its affiliates managed $192.3 billion in assets as of June 30, 2012, offering individuals and institutions a broad array of investment strategies and wealth management solutions.  The Company's long record of providing exemplary service and attractive returns through a variety of market conditions has made Eaton Vance the investment manager of choice for many of today's most discerning investors.  For more information about Eaton Vance, visit www.eatonvance.com.

  

EATON VANCE FLOATING-RATE INCOME TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)










Three Months Ended


Year Ended


May 31,


May 31,


2012


2011


2012


2011

Gross investment income

$12,748


$12,002


$49,479


$47,887

Operating expenses

(1,921)


(1,775)


(7,351)


(7,001)

Interest expense

(865)


(869)


(3,355)


(3,772)

Net investment income

$9,962


$9,358


$38,773


$37,114

Net realized and unrealized gains (losses)








  on investments

($2,934)


($2,500)


($13,578)


$40,410

Preferred dividends paid from net investment income

(301)


(300)


(1,186)


(1,225)

Net increase (decrease) in net assets








  from operations

$6,727


$6,558


$24,009


$76,299









Earnings per Common Share Outstanding








Gross investment income

$0.340


$0.320


$1.320


$1.279

Operating expenses

(0.051)


(0.047)


(0.196)


(0.187)

Interest expense

(0.024)


(0.024)


(0.090)


(0.101)

Net investment income 

$0.265


$0.249


$1.034


$0.991

Net realized and unrealized gains (losses)








  on investments

($0.084)


($0.064)


($0.368)


$1.082

Preferred dividends paid from net investment income

(0.008)


(0.008)


(0.032)


(0.033)

Net increase (decrease) in net assets








  from operations

$0.173


$0.177


$0.634


$2.040









Net investment income

$0.265


$0.249


$1.034


$0.991

Preferred dividends paid from net investment income

(0.008)


(0.008)


(0.032)


(0.033)

Net investment income after preferred dividends

$0.257


$0.241


$1.002


$0.958









Net Asset Value at May 31 (Common Share)








Net assets (000)





$582,011


$595,890

Shares outstanding (000)





37,513


37,481

Net asset value per share outstanding





$15.51


$15.90









Market Value Summary (Common Share)








Market price on NYSE at May 31





$15.79


$16.39

High market price (year ended May 31)





$16.69


$17.50

Low market price (year ended May 31)





$13.47


$14.31


SOURCE Eaton Vance Management



RELATED LINKS
http://www.eatonvance.com

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