Welcome!

News Feed Item

Eaton Vance Limited Duration Income Fund Report Of Earnings

BOSTON, Feb. 14, 2014 /PRNewswire/ -- Eaton Vance Limited Duration Income Fund (NYSE MKT: EVV) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the nine months ended December 31, 2013. The Fund's fiscal year ends on March 31, 2014. 

For the three months ended December 31, 2013, the Fund had net investment income of $33,896,642 ($0.289 per common share).  From this amount, the Fund paid dividends on preferred shares of $79,320 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $33,817,322 or $0.288 per common share.  For the nine months ended December 31, 2013, the Fund had net investment income of $91,547,704 ($0.779 per common share).  From this amount, the Fund paid dividends on preferred shares of $241,526 (equal to $0.002 for each common share), resulting in net investment income after the preferred dividends of $91,306,178 or $0.777 per common share.  In comparison, for the three months ended December 31, 2012, the Fund had net investment income of $37,356,388 ($0.318 per common share).  From this amount, the Fund paid dividends on preferred shares of $128,618 (equal to $0.001 for each common share), resulting in net investment income after the preferred dividends of $37,227,770 or $0.317 per common share.  For the nine months ended December 31, 2012, the Fund had net investment income of $100,879,557 ($0.859 per common share).  From this amount, the Fund paid dividends on preferred shares of $378,998 (equal to $0.003 for each common share), resulting in net investment income after the preferred dividends of $100,500,559 or $0.856 per common share.

Net realized and unrealized gains for the three months ended December 31, 2013 were $24,024,939 ($0.212 per common share).  The Fund's net realized and unrealized losses for the nine months ended December 31, 2013 were $21,932,770 ($0.187 per common share).  In comparison, net realized and unrealized gains for the three months ended December 31, 2012 were $4,977,870 ($0.050 per common share). The Fund's net realized and unrealized gains for the nine months ended December 31, 2012 were $38,211,014 ($0.326 per common share).

On December 31, 2013, net assets of the Fund applicable to common shares were $1,943,271,289. The net asset value per common share on December 31, 2013 was $16.53 based on 117,547,018 common shares outstanding.  In comparison, on December 31, 2012, net assets of the Fund applicable to common shares were $1,971,973,615.  The net asset value per common share on December 31, 2012 was $16.79 based on 117,454,750 common shares outstanding. 

The Fund periodically makes performance data and certain 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 month-end are also posted to the website approximately 30 days following month-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 $278.6 billion in assets as of January 31, 2014, 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


Nine Months Ended





December 31,


December 31,





2013


2012


2013


2012


Gross investment income


$42,696


$44,943


$115,882


$124,355


Operating expenses


(6,366)


(5,615)


(18,273)


(16,967)


Interest expense


(2,433)


(1,972)


(6,061)


(6,508)



Net investment income


$33,897


$37,356


$91,548


$100,880


Net realized and unrealized gains (losses)










  on investments


$24,025


$4,978


($21,933)


$38,211


Preferred dividends paid from net investment income

(79)


(129)


(242)


(379)



Net increase (decrease) in net assets











  from operations


$57,843


$42,205


$69,373


$138,712













Earnings per Common Share Outstanding










Gross investment income


$0.363


$0.382


$0.986


$1.059


Operating expenses


(0.053)


(0.048)


(0.155)


(0.145)


Interest expense


(0.021)


(0.016)


(0.052)


(0.055)



Net investment income


$0.289


$0.318


$0.779

(1)

$0.859

(1)

Net realized and unrealized gains (losses)










  on investments


$0.212


$0.050


($0.187)


$0.326


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.002)


(0.003)



Net increase (decrease) in net assets











  from operations


$0.500


$0.367


$0.590


$1.182













Net investment income


$0.289


$0.318


$0.779


$0.859


Preferred dividends paid from net investment income

(0.001)


(0.001)


(0.002)


(0.003)


Net investment income after preferred dividends


$0.288


$0.317


$0.777


$0.856













Net Asset Value at December 31 (Common Share)










Net assets (000)






$1,943,271


$1,971,974



Shares outstanding (000)






117,547


117,455



Net asset value per share outstanding






$16.53


$16.79













Market Value Summary (Common Share)











Market price on NYSE MKT at December 31





$15.30


$16.94



High market price (nine months ended December 31)




$17.67


$17.38



Low market price (nine months ended December 31)




$14.50


$15.69













(1) Estimated net investment income per share, calculated on a federal income tax basis, for the nine months ended


December 31, 2013 and December 31, 2012, was $0.901 and $0.909, respectively.

SOURCE Eaton Vance Management

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...