Eaton Vance Short Duration Diversified Income Fund Report of Earnings

Jun 29, 2010, 15:01 ET from Eaton Vance Management

BOSTON, June 29 /PRNewswire-FirstCall/ -- Eaton Vance Short Duration Diversified Fund (NYSE: EVG), a closed-end investment company, today announced the earnings of the Fund for the three and six months ended April 30, 2010.  The Fund's fiscal year ends on October 31, 2010.

For the three months ended April 30, 2010, the Fund had net investment income of $5,554,127 ($0.294 per share). For the six months ended April 30, 2010, the Fund had net investment income of $10,952,559 ($0.580 per share).  In comparison, for the three months ended April 30, 2009, the Fund had net investment income of $4,705,972 ($0.249 per share).  For the six months ended April 30, 2009, the Fund had net investment income of $9,843,923 ($0.521 per share).  

Net realized and unrealized gains for the three months ended April 30, 2010 were $6,315,896 ($0.336 per share).  Net realized and unrealized gains for the six months ended April 30, 2010 were $13,571,484 ($0.720 per share). In comparison, net realized and unrealized gains for the three months ended April 30, 2009 were $16,384,677 ($0.865 per share).  Net realized and unrealized gains for the six months ended April 30, 2009 were $11,354,571 ($0.599 per share).

On April 30, 2010, net assets of the Fund were $347,809,368.  The net asset value per share on April 30, 2010 was $18.42 based on 18,886,596 shares outstanding.  In comparison, on April 30, 2009, net assets of the Fund were $293,168,139.  The net asset value per share on April 30, 2009 was $15.52 based on 18,886,596 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 SHORT DURATION DIVERSIFIED INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Six Months Ended

April 30,

April 30,

2010

2009

2010

2009

Gross investment income

$   7,075

$   5,917

$   13,788

$   12,025

Operating expenses

(1,520)

(1,211)

(2,835)

(2,181)

Net investment income

$   5,555

$   4,706

$   10,953

$     9,844

Net realized and unrealized gains (losses)

 on investments

$   6,315

$ 16,385

$   13,571

$   11,355

Net increase (decrease) in net assets

 from operations

$ 11,870

$ 21,091

$   24,524

$   21,199

Earnings per Share Outstanding

Gross investment income

$   0.374

$   0.313

$     0.730

$     0.636

Operating expenses

(0.080)

(0.064)

(0.150)

(0.115)

Net investment income

$   0.294

$   0.249

0.580 (1)

0.521 (1)

Net realized and unrealized gains (losses)

 on investments

$   0.336

$   0.865

$     0.720

$     0.599

Net increase (decrease) in net assets

 from operations

$   0.630

$   1.114

$     1.300

$     1.120

Net Asset Value at April 30

Net assets  

$ 347,809

$ 293,168

Shares outstanding

18,887

18,887

Net asset value per share outstanding

$     18.42

$     15.52

Market Value Summary

Market price on NYSE at April 30

$     17.52

$     13.24

High market price (period ended April 30)

$     17.52

$     13.27

Low market price (period ended April 30)

$     15.46

$     10.37

(1)  For federal income tax purposes, estimated net investment income per share for the six months ended April 30, 2010 and April 30, 2009 were $0.87 and $0.33, respectively.    

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com