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

BOSTON, Dec. 13, 2012 /PRNewswire/ -- 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 nine months ended September 30, 2012. The Fund's fiscal year ends on December 31, 2012.

For the three months ended September 30, 2012, the Fund had net investment income of $1,287,138 ($0.053 per share). For the nine months ended September 30, 2012, the Fund had net investment income of $3,567,408 ($0.145 per share). In comparison, for the three months ended September 30, 2011, the Fund had net investment income of $1,059,094 ($0.043 per share). For the nine months ended September 30, 2011, the Fund had net investment income of $3,221,061 ($0.131 per share).

Net realized and unrealized gains for the three months ended September 30, 2012 were $16,117,695 ($0.653 per share). Net realized and unrealized gains for the nine months ended September 30, 2012 were $38,926,932 ($1.579 per share). In comparison, net realized and unrealized losses for the three months ended September 30, 2011 were $38,961,427 ($1.580 per share). Net realized and unrealized losses for the nine months ended September 30, 2011 were $26,283,341 ($1.066 per share).

On September 30, 2012, net assets of the Fund were $380,710,542. The net asset value per share on September 30, 2012 was $15.44 based on 24,654,545 shares outstanding. In comparison, on September 30, 2011, net assets of the Fund were $323,376,857. The net asset value per share on September 30, 2011 was $13.12 based on 24,654,545 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 $199.5 billion in assets as of October 31, 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 TAX-MANAGED BUY-WRITE INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)




















Three Months Ended


Nine Months Ended







September 30,


September 30,







2012


2011


2012


2011

Gross investment income

$         2,358


$         2,055


$         6,729


$         6,342

Operating expenses

(1,071)


(996)


(3,162)


(3,121)


Net investment income

$         1,287


$         1,059


$         3,567


$         3,221

Net realized and unrealized gains (losses) on investments

$      16,118


$    (38,961)


$      38,927


$    (26,283)


Net increase (decrease) in net assets from operations

$      17,405


$    (37,902)


$      42,494


$    (23,062)














Earnings per Share Outstanding








Gross investment income

$         0.096


$         0.083


$         0.273


$         0.257

Operating expenses

(0.043)


(0.040)


(0.128)


(0.126)


Net investment income 

$         0.053


$         0.043


$         0.145


$         0.131

Net realized and unrealized gains (losses) on investments

$         0.653


$      (1.580)


$         1.579


$      (1.066)


Net increase (decrease) in net assets from operations

$         0.706


$      (1.537)


$         1.724


$      (0.935)



























Net Asset Value at September 30









Net assets  





$    380,711


$    323,377


Shares outstanding 





24,655


24,655


Net asset value per share outstanding





$         15.44


$         13.12














Market Value Summary 









Market price on NYSE at September 30





$         15.01


$         11.62


High market price (period ended September 30)





$         15.16


$         14.82


Low market price (period ended September 30)





$         12.59


$         10.96

 

 

SOURCE Eaton Vance Management



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