Eaton Vance Limited Duration Income Fund Report Of Earnings

Jan 05, 2010, 13:54 ET from Eaton Vance Management

BOSTON, Jan. 5 /PRNewswire-FirstCall/ -- 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 six months ended October 31, 2009. The Fund's fiscal year ends on April 30, 2010.

For the three months ended October 31, 2009, the Fund had net investment income of $28,682,814 ($0.255 per common share). From this amount, the Fund paid dividends on preferred shares of $190,539 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $28,492,275 or $0.253 per common share. For the six months ended October 31, 2009, the Fund had net investment income of $65,891,829 ($0.586 per common share). From this amount, the Fund paid dividends on preferred shares of $466,414 (equal to $0.004 per common share), resulting in net investment income after the preferred dividends of $65,425,415, or $0.582 per common share. In comparison, for the three months ended October 31, 2008, the Fund had net investment income of $38,143,359 ($0.339 per common share). From this amount, the Fund paid dividends on preferred shares of $2,691,696 (equal to $0.024 for each common share), resulting in net investment income after the preferred dividends of $35,451,663 or $0.315 per common share. For the six months ended October 31, 2008, the Fund had net investment income of $79,912,915 ($0.711 per common share). From this amount, the Fund paid dividends on preferred shares of $5,238,008 (equal to $0.047 per common share), resulting in net investment income after the preferred dividends of $74,674,907, or $0.664 per common share.

Net realized and unrealized gains for the three months ended October 31, 2009 were $110,500,465 ($0.981 per common share). The Fund's net realized and unrealized gains for the six months ended October 31, 2009 were $321,598,929 ($2.858 per common share). In comparison, net realized and unrealized losses for the three months ended October 31, 2008 were $406,116,524 ($3.615 per common share). The Fund's net realized and unrealized losses for the six months ended October 31, 2008 were $455,509,962 ($4.054 per common share).

On October 31, 2009, net assets of the Fund applicable to common shares were $1,770,903,755. The net asset value per common share on October 31, 2009 was $15.75 based on 112,462,747 common shares outstanding. In comparison, on October 31, 2008, net assets of the Fund applicable to common shares were $1,374,582,641. The net asset value per common share on October 31, 2008 was $12.22 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 $154.9 billion in assets as of October 31, 2009, offering individuals and institutions a broad array of investment products 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      Six Months Ended
                                      October 31,            October 31,
                                   2009        2008       2009        2008
    Gross investment income      $37,326     $48,715    $84,275     $99,568
    Interest expense             ($4,632)    ($5,873)  ($10,254)   ($10,347)
    Operating expenses           ($4,011)    ($4,699)   ($8,129)    ($9,308)
      Net investment income      $28,683     $38,143    $65,892     $79,913
    Net realized and unrealized
     gains (losses)
     on investments             $110,500   ($406,116)  $321,599   ($455,510)
    Preferred dividends paid
     from net investment
     income                        ($191)    ($2,692)     ($466)    ($5,238)
      Net increase (decrease)
       in net assets from
       operations               $138,992   ($370,665)  $387,025   ($380,835)

    Earnings per Common Share Outstanding
    -------------------------------------
    Gross investment income       $0.332      $0.433     $0.749      $0.886
    Interest expense             ($0.041)    ($0.052)   ($0.091)    ($0.092)
    Operating expenses           ($0.036)    ($0.042)   ($0.072)    ($0.083)
      Net investment income       $0.255      $0.339     $0.586(1)   $0.711(1)
    Net realized and unrealized
     gains (losses) on
     investments                  $0.981     ($3.615)    $2.858     ($4.054)
    Preferred dividends paid
     from net investment
     income                      ($0.002)    ($0.024)   ($0.004)    ($0.047)
      Net increase (decrease)
       in net assets from
       operations                 $1.234     ($3.300)    $3.440     ($3.390)

    Net investment income         $0.255      $0.339     $0.586      $0.711
    Preferred dividends paid
     from net investment
     income                       (0.002)     (0.024)    (0.004)     (0.047)
    Net investment income
     after preferred
     dividends                    $0.253      $0.315     $0.582      $0.664

    Net Asset Value at October 31 (Common Share)
    --------------------------------------------
      Net assets (000)                               $1,770,904  $1,374,588
      Shares outstanding (000)                          112,463     112,463
      Net asset value per share outstanding              $15.75      $12.22

    Market Value Summary (Common Share)
    ----------------------------------
      Market price on NYSE Amex at October 31            $13.89      $10.56
      High market price (six months ended October 31)    $14.79      $15.46
      Low market price (six months ended October 31)     $11.61       $8.00


    (1) For Federal Income Tax purposes, net investment income per share
        for the six months ended October 31, 2009 and October 31, 2008, was
        $0.676 and $0.737 , respectively.


SOURCE Eaton Vance Management



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http://www.eatonvance.com