Eaton Vance Limited Duration Income Fund Report of Earnings

Mar 23, 2011, 13:49 ET from Eaton Vance Management

BOSTON, March 23, 2011 /PRNewswire/ -- Eaton Vance Limited Duration Income Fund (NYSE Amex: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the nine months ended January 31, 2011.  The Fund's fiscal year ends on April 30, 2011.

For the three months ended January 31, 2011, the Fund had net investment income of $38,016,872 ($0.324 per common share).  From this amount, the Fund paid dividends on preferred shares of $206,168 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $37,810,704 or $0.322 per common share.  For the nine months ended January 31, 2011, the Fund had net investment income of $103,358,926 ($0.881 per common share).  From this amount, the Fund paid dividends on preferred shares of $665,960 (equal to $0.006 for each common share), resulting in net investment income after the preferred dividends of $102,692,966 or $0.875 per common share.  In comparison, for the three months ended January 31, 2010, the Fund had net investment income of $40,499,539 ($0.360 per common share).  From this amount, the Fund paid dividends on preferred shares of $145,645 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $40,353,894 or $0.359 per common share.  For the nine months ended January 31, 2010, the Fund had net investment income of $106,391,368 ($0.946 per common share).  From this amount, the Fund paid dividends on preferred shares of $612,059 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $105,779,309 or $0.941 per common share.

Net realized and unrealized gains for the three months ended January 31, 2011 were $9,001,277 ($0.075 per common share).  The Fund's net realized and unrealized gains for the nine months ended January 31, 2011 were $57,122,682 ($0.487 per common share).  In comparison, net realized and unrealized gains for the three months ended January 31, 2010 were $53,903,901 ($0.481 per common share).  The Fund's net realized and unrealized gains for the nine months ended January 31, 2010 were $375,502,830 ($3.339 per common share).

On January 31, 2011, net assets of the Fund applicable to common shares were $1,988,691,946.  The net asset value per common share on January 31, 2011 was $16.95 based on 117,344,153 common shares outstanding.  In comparison, on January 31, 2010, net assets of the Fund applicable to common shares were $1,825,999,146.  The net asset value per common share on January 31, 2010 was $16.24 based on 112,462,747 common 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 $191.7 billion in assets as of January 31, 2011, 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 LIMITED DURATION INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Nine Months Ended

January 31,

January 31,

2011

2010

2011

2010

Gross investment income

$47,029

$49,317

$129,771

$133,592

Operating expenses

(5,885)

(4,070)

(16,965)

(14,324)

Interest expense

(3,127)

(4,747)

(9,447)

(12,877)

Net investment income

$38,017

$40,500

$103,359

$106,391

Net realized and unrealized gains (losses)

 on investments

$9,001

$53,904

$57,123

$375,503

Preferred dividends paid from net investment income

($206)

($146)

($666)

($612)

Net increase (decrease) in net assets

 from operations

$46,812

$94,258

$159,816

$481,282

Earnings per Common Share Outstanding

Gross investment income

$0.401

$0.438

$1.106

$1.188

Operating expenses

(0.050)

(0.036)

(0.144)

(0.127)

Interest expense

(0.027)

(0.042)

(0.081)

(0.115)

Net investment income

$0.324

$0.360

$0.881

(1)

$0.946

(1)

Net realized and unrealized gains (losses)

 on investments

$0.075

$0.481

$0.487

$3.339

Preferred dividends paid from net investment income

(0.002)

(0.001)

(0.006)

(0.005)

Net increase (decrease) in net assets

 from operations

$0.397

$0.840

$1.362

$4.280

Net investment income

$0.324

$0.360

$0.881

$0.946

Preferred dividends paid from net investment income

(0.002)

(0.001)

(0.006)

(0.005)

Net investment income after preferred dividends

$0.322

$0.359

$0.875

$0.941

Net Asset Value at January 31 (Common Share)

Net assets (000)

$1,988,692

$1,825,999

Shares outstanding (000)

117,344

112,463

Net asset value per share outstanding

$16.95

$16.24

Market Value Summary (Common Share)

Market price on NYSE Amex at January 31

$16.05

$15.43

High market price (nine months ended January 31)

$16.73

$15.54

Low market price (nine months ended January 31)

$14.88

$11.61

(1) For Federal Income Tax purposes, net investment income per share for the nine months ended January 31, 2011 and January 31, 2010, was $0.980 and $1.016, respectively.

SOURCE Eaton Vance Management



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http://www.eatonvance.com