Eaton Vance Tax-Managed Buy-Write Income Fund Report of Earnings

Mar 07, 2011, 13:58 ET from Eaton Vance Management

BOSTON, March 7, 2011 /PRNewswire/ -- Eaton Vance Tax-Managed Buy-Write Income Fund (NYSE: ETB) (the "Fund"), a closed-end investment company, today announced the earnings of the Fund for the three months and year ended December 31, 2010.  The Fund's fiscal year ended on December 31, 2010.

For the three months ended December 31, 2010, the Fund had net investment income of $1,412,768 ($0.058 per share). For the year ended December 31, 2010, the Fund had net investment income of $4,548,310 ($0.185 per share).  In comparison, for the three months ended December 31, 2009, the Fund had net investment income of $1,270,265 ($0.052 per share).  For the year ended December 31, 2009, the Fund had net investment income of $5,477,460 ($0.223 per share).  

Net realized and unrealized gains for the three months ended December 31, 2010 were $22,135,975 ($0.893 per share).  Net realized and unrealized gains for the year ended December 31, 2010 were $25,873,508 ($1.045 per share). In comparison, net realized and unrealized gains for the three months ended December 31, 2009 were $29,291,554 ($1.195 per share).  Net realized and unrealized gains for the year ended December 31, 2009 were $86,381,095 ($3.517 per share).

On December 31, 2010, net assets of the Fund were $370,403,354. The net asset value per share on December 31, 2010 was $15.02 based on 24,654,545 shares outstanding. In comparison, on December 31, 2009, net assets of the Fund were $383,356,015. The net asset value per share on December 31, 2009 was $15.59 based on 24,591,335 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 TAX-MANAGED BUY-WRITE INCOME FUND

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)

 Three Months Ended 

Year Ended 

 December 31, 

 December 31, 

2010

2009

2010

2009

Gross investment income

$   2,409

$   2,288

$     8,580

$     9,299

Operating expenses

(996)

(1,018)

(4,032)

(3,822)

Net investment income

$   1,413

$   1,270

$     4,548

$     5,477

Net realized and unrealized gains (losses)

 on investments

$ 22,136

$ 29,291

$   25,874

$   86,381

Net increase (decrease) in net assets

 from operations

$ 23,549

$ 30,561

$   30,422

$   91,858

Earnings per Share Outstanding

Gross investment income

$   0.099

$   0.093

$     0.349

$     0.378

Operating expenses

(0.041)

(0.041)

(0.164)

(0.155)

Net investment income

$   0.058

$   0.052

$     0.185

$     0.223

Net realized and unrealized gains (losses)

 on investments

$   0.893

$   1.195

$     1.045

$     3.517

Net increase (decrease) in net assets

 from operations

$   0.951

$   1.247

$     1.230

$     3.740

Net Asset Value at December 31

Net assets  

$ 370,403

$ 383,356

Shares outstanding

24,655

24,591

Net asset value per share outstanding

$     15.02

$     15.59

Market Value Summary

Market price on NYSE at December 31

$     14.41

$     16.85

High market price (period ended December 31)

$     17.26

$     16.85

Low market price (period ended December 31)

$     13.55

$       9.08

SOURCE Eaton Vance Management



RELATED LINKS

http://www.eatonvance.com