Eaton Vance California Municipal Bond Fund Report of Earnings

Dec 22, 2010, 14:41 ET from Eaton Vance Management

BOSTON, Dec. 22, 2010 /PRNewswire-FirstCall/ -- Eaton Vance California Municipal Bond Fund (NYSE Amex: EVM) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and year ended September 30, 2010. The Fund's fiscal year ended on September 30, 2010.

For the three months ended September 30, 2010, the Fund had net investment income of $4,490,932 ($0.207 per share). For the year ended September 30, 2010, the Fund had net investment income of $18,386,371 ($0.847 per share). In comparison, for the three months ended September 30, 2009, the Fund had net investment income of $4,678,604 ($0.216 per share). For the year ended September 30, 2009, the Fund had net investment income of $17,921,015 ($0.827 per share).

Net realized and unrealized gains for the three months ended September 30, 2010 were $14,630,050 ($0.676 per share). Net realized and unrealized losses for the year ended September 30, 2010 were $7,220,425 ($0.331 per share). In comparison, net realized and unrealized gains for the three months ended September 30, 2009 were $43,685,993 ($2.013 per share). Net realized and unrealized gains for the year ended September 30, 2009 were $34,222,302 ($1.570 per share).

On September 30, 2010, net assets of the Fund were $273,913,735. The net asset value per share on September 30, 2010 was $12.61 based on 21,717,929 shares outstanding. In comparison, on September 30, 2009, net assets of the Fund were $280,742,591. The net asset value per share on September 30, 2009 was $12.94 based on 21,688,572 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 $185.2 billion in assets as of October 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 CALIFORNIA MUNICIPAL BOND FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Year Ended

September 30,

September 30,

2010

2009

2010

2009

Net investment income

$       4,491

$       4,679

$      18,386

$     17,921

Net realized and unrealized gains (losses)  on investments

14,630

43,686

(7,220)

34,222

Net increase (decrease) in net assets

 from operations

$     19,121

$       48,365

$      11,166

$     52,143

Earnings per Share Outstanding

Net investment income

$       0.207

$         0.216

$         0.847

$        0.827

Net realized and unrealized gains (losses)

 on investments

0.676

2.013

(0.331)

1.570

Net increase (decrease) in net assets

 from operations

$       0.883

$         2.229

$         0.516

$       2.397

Net Asset Value at September 30

Net assets

$    273,914

$    280,743

Shares outstanding

21,718

21,689

Net asset value per share outstanding

$        12.61

$        12.94

Market Value Summary

Market price on NYSE Amex at September 30

$         13.30

$       12.97

High market price (period ended September 30)

$         13.47

$       12.97

Low market price (period ended September 30)

$         11.18

$         6.41

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com