Eaton Vance Tax-Managed Buy-Write Income Fund Report of Earnings

Aug 31, 2010, 17:38 ET from Eaton Vance Management

BOSTON, Aug. 31 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB), a closed-end management investment company, today announced the earnings of the Fund for the three and the six months ended June 30, 2010.  The Fund's fiscal year ends on December 31, 2010.

For the three months ended June 30, 2010, the Fund had net investment income of $977,480 ($0.039 per share). For the six months ended June 30, 2010, the Fund had net investment income of $2,102,506 ($0.085 per share).  In comparison, for the three months ended June 30, 2009, the Fund had net investment income of $1,308,128 ($0.053 per share). For the six months ended June 30, 2009, the Fund had net investment income of $2,983,721 ($0.121 per share).  

Net realized and unrealized losses for the three months ended June 30, 2010 were $34,432,209 ($1.403 per share).  Net realized and unrealized losses for the six months ended June 30, 2010 were $28,412,021 ($1.155 per share). In comparison, net realized and unrealized gains for the three months ended June 30, 2009 were $40,997,913 ($1.666 per share).  Net realized and unrealized gains for the six months ended June 30, 2009 were $26,561,895 ($1.079 per share).

On June 30, 2010, net assets of the Fund were $335,309,559.  The net asset value per share on June 30, 2010 was $13.62 based on 24,617,749 shares outstanding.  In comparison, on June 30, 2009, net assets of the Fund were $343,033,197.  The net asset value per share on June 30, 2009 was $13.95 based on 24,581,806 shares outstanding.  

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 $173.3 billion in assets as of July 31, 2010, 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 TAX-MANAGED BUY-WRITE INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

 Three Months Ended 

 Six Months Ended 

June 30,  

 June 30,  

2010

2009

2010

2009

Gross investment income

$    2,002

$   2,281

$     4,150

$     4,830

Operating expenses

(1,025)

(973)

(2,048)

(1,846)

Net investment income

$       977

$   1,308

$     2,102

$     2,984

Net realized and unrealized gains (losses)

 on investments

$ (34,432)

$ 40,998

$ (28,412)

$   26,562

Net increase (decrease) in net assets

 from operations

$ (33,455)

$ 42,306

$ (26,310)

$   29,546

Earnings per Share Outstanding

Gross investment income

$    0.082

$   0.092

$     0.169

$     0.196

Operating expenses

(0.043)

(0.039)

(0.084)

(0.075)

Net investment income

$    0.039

$   0.053

$     0.085

$     0.121

Net realized and unrealized gains (losses)

 on investments

$   (1.403)

$   1.666

$   (1.155)

$     1.079

Net increase (decrease) in net assets

 from operations

$   (1.364)

$   1.719

$   (1.070)

$     1.200

Net Asset Value at June 30

Net assets

$ 335,310

$ 343,033

Shares outstanding

24,618

24,582

Net asset value per share outstanding

$     13.62

$     13.95

Market Value Summary

Market price on NYSE at June 30

$     15.24

$     14.04

High market price (period ended June 30)

$     17.26

$     14.18

Low market price (period ended June 30)

$     13.55

$       9.08

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com