Eaton Vance California Municipal Bond Fund Report of Earnings

Jun 08, 2010, 12:07 ET from Eaton Vance Management

BOSTON, June 8 /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 and six months ended March 31, 2010.  The Fund's fiscal year ends on September 30, 2010.

For the three months ended March 31, 2010, the Fund had net investment income of $4,653,638 ($0.215 per share).  For the six months ended March 31, 2010, the Fund had net investment income of $9,340,595 ($0.431 per share).  In comparison, for the three months ended March 31, 2009, the Fund had net investment income of $4,662,075 ($0.215 per share).  For the six months ended March 31, 2009, the Fund had net investment income of $8,567,402 ($0.395 per share).  

Net realized and unrealized gains for the three months ended March 31, 2010 were $1,310,313 ($0.060 per share).  Net realized and unrealized losses for the six months ended March 31, 2010 were $23,203,043 ($1.070 per share).  In comparison, net realized and unrealized gains for the three months ended March 31, 2009 were $18,059,512 ($0.831 per share).  Net realized and unrealized losses for the six months ended March 31, 2009 were $18,303,099 ($0.847 per share).

On March 31, 2010, net assets of the Fund were $257,884,644.  The net asset value per share on March 31, 2010 was $11.88 based on 21,700,267 shares outstanding.  In comparison, on March 31, 2009, net assets of the Fund were $227,389,518.  The net asset value per share on March 31, 2009 was $10.49 based on 21,676,489 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 $176.2 billion in assets as of April 30, 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

Six Months Ended

March 31,

March 31,

2010

2009

2010

2009

Net investment income

$ 4,654

$   4,662

$     9,341

$     8,567

Net realized and unrealized gains (losses)

 on investments

   1,310

   18,060

   (23,203)

   (18,303)

Net increase (decrease) in net assets

 from operations

$ 5,964

$ 22,722

$ (13,862)

$   (9,736)

Earnings per Share Outstanding

Net investment income

$ 0.215

$   0.215

$     0.431

$     0.395

Net realized and unrealized gains (losses)

 on investments

   0.060

     0.831

     (1.070)

     (0.847)

Net increase (decrease) in net assets

 from operations

$ 0.275

$   1.046

$   (0.639)

$   (0.452)

Net Asset Value at March 31

Net assets

$ 257,885

$ 227,390

Shares outstanding

     21,700

     21,676

Net asset value per share outstanding

$     11.88

$     10.49

Market Value Summary

Market price on NYSE Amex at March 31

$     12.14

$     10.25

High market price (period ended March 31)

$     13.12

$     11.60

Low market price (period ended March 31)

$     11.18

$       6.41

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com