BOSTON, Aug. 31 /PRNewswire-FirstCall/ -- Eaton Vance Tax-Managed Buy-Write Income Fund , a closed-end management investment company, today announced the earnings of the Fund for the three and the six months ended June 30, 2010. The Fund's fiscal year ends on December 31, 2010.
For the three months ended June 30, 2010, the Fund had net investment income of $977,480 ($0.039 per share). For the six months ended June 30, 2010, the Fund had net investment income of $2,102,506 ($0.085 per share). In comparison, for the three months ended June 30, 2009, the Fund had net investment income of $1,308,128 ($0.053 per share). For the six months ended June 30, 2009, the Fund had net investment income of $2,983,721 ($0.121 per share).
Net realized and unrealized losses for the three months ended June 30, 2010 were $34,432,209 ($1.403 per share). Net realized and unrealized losses for the six months ended June 30, 2010 were $28,412,021 ($1.155 per share). In comparison, net realized and unrealized gains for the three months ended June 30, 2009 were $40,997,913 ($1.666 per share). Net realized and unrealized gains for the six months ended June 30, 2009 were $26,561,895 ($1.079 per share).
On June 30, 2010, net assets of the Fund were $335,309,559. The net asset value per share on June 30, 2010 was $13.62 based on 24,617,749 shares outstanding. In comparison, on June 30, 2009, net assets of the Fund were $343,033,197. The net asset value per share on June 30, 2009 was $13.95 based on 24,581,806 shares outstanding.
The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp. , 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 $173.3 billion in assets as of July 31, 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 http://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 Six Months Ended June 30, June 30, 2010 2009 2010 2009 ---- ---- ---- ---- Gross investment income $2,002 $2,281 $4,150 $4,830 Operating expenses (1,025) (973) (2,048) (1,846) ------ ---- ------ ------ Net investment income $977 $1,308 $2,102 $2,984 Net realized and unrealized gains (losses) on investments $(34,432) $40,998 $(28,412) $26,562 -------- ------- -------- ------- Net increase (decrease) in net assets from operations $(33,455) $42,306 $(26,310) $29,546 ======== ======= ======== ======= Earnings per Share Outstanding ------------ Gross investment income $0.082 $0.092 $0.169 $0.196 Operating expenses (0.043) (0.039) (0.084) (0.075) ------ ------ ------ ------ Net investment income $0.039 $0.053 $0.085 $0.121 Net realized and unrealized gains (losses) on investments $(1.403) $1.666 $(1.155) $1.079 ------- ------ ------- ------ Net increase (decrease) in net assets from operations $(1.364) $1.719 $(1.070) $1.200 ======= ====== ======= ====== Net Asset Value at June 30 --------- Net assets $335,310 $343,033 Shares outstanding 24,618 24,582 Net asset value per share outstanding $13.62 $13.95 Market Value Summary ------------ Market price on NYSE at June 30 $15.24 $14.04 High market price (period ended June 30) $17.26 $14.18 Low market price (period ended June 30) $13.55 $9.08
Eaton Vance Management
CONTACT: Eaton Vance Management Investor Contact, +1-800-262-1122
Web Site: http://www.eatonvance.com/
