Eaton Vance Limited Duration Income Fund Report of Earnings

Jun 23, 2010, 16:19 ET from Eaton Vance Management

BOSTON, June 23 /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 fiscal year ended April 30, 2010.  

For the three months ended April 30, 2010, the Fund had net investment income of $30,836,681 ($0.267 per common share).  From this amount, the Fund paid dividends on preferred shares of $182,014 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $30,654,667 or $0.265 per common share.  For the year ended April 30, 2010, the Fund had net investment income of $137,228,049 ($1.213 per common share).  From this amount, the Fund paid dividends on preferred shares of $794,073 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $136,433,976 or $1.206 per common share.  In comparison, for the three months ended April 30, 2009, the Fund had net investment income of $35,551,099 ($0.317 per common share).  From this amount, the Fund paid dividends on preferred shares of $398,486 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $35,152,613 or $0.313 per common share.  For the year ended April 30, 2009, the Fund had net investment income of $151,554,544 ($1.348 per common share).  From this amount, the Fund paid dividends on preferred shares of $6,516,518 (equal to $0.058 for each common share), resulting in net investment income after the preferred dividends of $145,038,026 or $1.290 per common share.

Net realized and unrealized gains for the three months ended April 30, 2010 were $54,643,552 ($0.470 per common share).  The Fund's net realized and unrealized gains for the year ended April 30, 2010 were $430,146,382 ($3.809 per common share).  In comparison, net realized and unrealized gains for the three months ended April 30, 2009 were $134,208,048 ($1.197 per common share). The Fund's net realized and unrealized losses for the year ended April 30, 2009 were $370,414,002 ($3.290 per common share).

On April 30, 2010, net assets of the Fund applicable to common shares were $1,950,179,446.  The net asset value per common share on April 30, 2010 was $16.63 based on 117,285,374 common shares outstanding.  In comparison, on April 30, 2009, net assets of the Fund applicable to common shares were $1,456,963,428.  The net asset value per common share on April 30, 2009 was $12.96 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 $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 LIMITED DURATION INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Year Ended

April 30,

April 30,

2010

2009

2010

2009

Gross investment income

$39,360

$43,263

$172,952

$189,010

Interest expense

(3,698)

(4,067)

(18,022)

(20,948)

Operating expenses

(4,825)

(3,645)

(17,702)

(16,507)

Net investment income

$30,837

$35,551

$137,228

$151,555

Net realized and unrealized gains (losses)

 on investments

$54,644

$134,208

$430,146

($370,414)

Preferred dividends paid from net investment income

(182)

(398)

(794)

(6,517)

Net increase (decrease) in net assets

 from operations

$85,299

$169,361

$566,580

($225,376)

Earnings per Common Share Outstanding

Gross investment income

$0.341

$0.386

$1.529

$1.681

Interest expense

(0.032)

(0.036)

(0.159)

(0.186)

Operating expenses

(0.042)

(0.033)

(0.157)

(0.147)

Net investment income

$0.267

$0.317

$1.213

(1)

$1.348

(1)

Net realized and unrealized gains (losses)

 on investments

$0.470

$1.197

$3.809

($3.290)

Preferred dividends paid from net investment income

(0.002)

(0.004)

(0.007)

(0.058)

Net increase (decrease) in net assets

 from operations

$0.735

$1.510

$5.015

($2.000)

Net investment income

$0.267

$0.317

$1.213

$1.348

Preferred dividends paid from net investment income

(0.002)

(0.004)

(0.007)

(0.058)

Net investment income after preferred dividends

$0.265

$0.313

$1.206

$1.290

Net Asset Value at April 30 (Common Share)

Net assets (000)

$1,950,179

$1,456,963

Shares outstanding (000)

117,285

112,463

Net asset value per share outstanding

$16.63

$12.96

Market Value Summary (Common Share)

Market price on NYSE Amex at April 30

$16.60

$11.58

High market price (year ended April 30)

$16.60

$15.46

Low market price (year ended April 30)

$11.61

$8.00

(1) For Federal Income Tax purposes, net investment income per share for the years ended April 30, 2010

and April 30, 2009, was $1.342 and $1.395, respectively.

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com