EATON VANCE CORP. 
By BOSTON, Jan. 13, 2012 /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 six months ended September 30, 2011. The Fund's fiscal year ends on March 31, 2012. Effective September 30, 2011, the fiscal year-end of the Fund was changed from April 30 to March 31.
For the three months ended September 30, 2011, the Fund had net investment income of $32,926,806 ($0.281 per common share). From this amount, the Fund paid dividends on preferred shares of $111,692 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $32,815,114 or $0.280 per common share. For the six months ended September 30, 2011, the Fund had net investment income of $65,163,654 ($0.556 per common share). From this amount, the Fund paid dividends on preferred shares of $240,613 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $64,923,041 or $0.554 per common share. In comparison, for the three months ended September 30, 2010, the Fund had net investment income of $34,311,174 ($0.292 per common share). From this amount, the Fund paid dividends on preferred shares of $218,578 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $34,092,596 or $0.290 per common share. For the six months ended September 30, 2010, the Fund had net investment income of $66,019,641 ($0.563 per common share). From this amount, the Fund paid dividends on preferred shares of $457,359 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $65,562,282 or $0.559 per common share.
Net realized and unrealized losses for the three months ended September 30, 2011 were $109,993,985 ($0.937 per common share). The Fund's net realized and unrealized losses for the six months ended September 30, 2011 were $117,558,001 ($1.001 per common share). In comparison, net realized and unrealized gains for the three months ended September 30, 2010 were $54,162,669 ($0.462 per common share). The Fund's net realized and unrealized gains for the six months ended September 30, 2010 were $37,658,306 ($0.321 per common share).
On September 30, 2011, net assets of the Fund applicable to common shares were $1,860,071,984. The net asset value per common share on September 30, 2011 was $15.85 based on 117,344,155 common shares outstanding. In comparison, on September 30, 2010, net assets of the Fund applicable to common shares were $1,947,534,733. The net asset value per common share on September 30, 2010 was $16.60 based on 117,344,155 common shares outstanding.
The Fund periodically makes certain performance data and information about portfolio characteristics available on www.eatonvance.com (on the fund information page under "Individual Investors - Closed-End Funds"). Fund portfolio holdings for the most recent calendar quarter-end are also posted to the website approximately 30 days following quarter-end.
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 $188.2 billion in assets as of October 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 Six Months Ended
September 30, September 30,
------------- -------------
2011 2010 2011 2010
---- ---- ---- ----
Gross investment income $41,193 $43,121 $81,424 $82,809
Operating expenses (5,649) (5,653) (11,176) (10,617)
Interest expense (2,617) (3,157) (5,084) (6,172)
------ ------ ------ ------
Net investment income $32,927 $34,311 $65,164 $66,020
Net realized and unrealized gains
(losses)
on investments ($109,994) $54,163 ($117,558) $37,658
Preferred dividends paid from net
investment income (112) (219) (241) (457)
Net increase (decrease) in net
assets
from operations ($77,179) $88,255 ($52,635) $103,221
Earnings per Common Share
Outstanding
-------------------------
Gross investment income $0.351 $0.367 $0.694 $0.706
Operating expenses (0.048) (0.048) (0.095) (0.091)
Interest expense (0.022) (0.027) (0.043) (0.052)
------ ------ ------ ------
Net investment income $0.281 $0.292 $0.556 (1) $0.563 (1)
Net realized and unrealized gains
(losses)
on investments ($0.937) $0.462 ($1.001) $0.321
Preferred dividends paid from net
investment income (0.001) (0.002) (0.002) (0.004)
------ ------ ------ ------
Net increase (decrease) in net
assets
from operations ($0.657) $0.752 ($0.447) $0.880
Net investment income $0.281 $0.292 $0.556 $0.563
Preferred dividends paid from net
investment income (0.001) (0.002) (0.002) (0.004)
------ ------ ------ ------
Net investment income after
preferred dividends $0.280 $0.290 $0.554 $0.559
====== ====== ====== ======
Net Asset Value at September 30
(Common Share )
-------------------------------
Net assets (000) $1,860,072 $1,947,535
Shares outstanding (000) 117,344 117,344
Net asset value per share
outstanding $15.85 $16.60
Market Value Summary (Common
Share )
----------------------------
Market price on NYSE Amex at
September 30 $14.66 $16.42
High market price (six months
ended September 30) $16.73 $16.63
Low market price (six months
ended September 30) $14.51 $14.88
(1) For Federal Income Tax purposes, net investment income per share for the six months ended September 30, 2011
and September 30, 2010, was $0.525 and $0.543, respectively.
SOURCE Eaton Vance Management
