EATON VANCE CORP. 
By BOSTON, Jan. 14, 2013 /PRNewswire/ -- Eaton Vance Floating-Rate Income Trust (NYSE: EFT) (the "Fund"), a closed-end management investment company, today announced the earnings of the Fund for the three months and the six months ended November 30, 2012. The Fund's fiscal year ends on May 31, 2013.
For the three months ended November 30, 2012, the Fund had net investment income of $10,980,511 ($0.293 per common share). From this amount, the Fund paid dividends on preferred shares of $443,810 (equal to $0.012 for each common share), resulting in net investment income after the preferred dividends of $10,536,701 or $0.281 per common share. For the six months ended November 30, 2012, the Fund had net investment income of $21,128,016 ($0.563 per common share). From this amount, the Fund paid dividends on preferred shares of $818,061 (equal to $0.022 for each common share), resulting in net investment income after the preferred dividends of $20,309,955 or $0.541 per common share. In comparison, for the three months ended November 30, 2011, the Fund had net investment income of $9,054,728 ($0.242 per common share). From this amount, the Fund paid dividends on preferred shares of $294,874 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $8,759,854 or $0.234 per common share. For the six months ended November 30, 2011, the Fund had net investment income of $18,475,784 ($0.493 per common share). From this amount, the Fund paid dividends on preferred shares of $586,645 (equal to $0.016 for each common share), resulting in net investment income after the preferred dividends of $17,889,139 or $0.477 per common share.
Net realized and unrealized gains for the three months ended November 30, 2012 were $6,128,606 ($0.168 per common share). The Fund's net realized and unrealized gains for the six months ended November 30, 2012 were $16,160,571 ($0.435 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2011 were $15,890,333 ($0.426 per common share). The Fund's net realized and unrealized losses for the six months ended November 30, 2011 were $29,824,715 ($0.794 per common share).
On November 30, 2012, net assets of the Fund applicable to common shares were $599,275,764. The net asset value per common share on November 30, 2012 was $15.96 based on 37,546,741 common shares outstanding. In comparison, on November 30, 2011, net assets of the Fund applicable to common shares were $565,945,110. The net asset value per common share on November 30, 2011 was $15.10 based on 37,486,982 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 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 $199.5 billion in assets as of October 31, 2012, 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 FLOATING-RATE INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Six Months Ended
November 30, November 30,
------------ ------------
2012 2011 2012 2011
---- ---- ---- ----
Gross investment income $13,864 $11,687 $26,920 $23,747
Operating expenses (2,045) (1,785) (4,059) (3,604)
Interest expense (838) (847) (1,733) (1,667)
---- ---- ------ ------
Net investment income $10,981 $9,055 $21,128 $18,476
Net realized and unrealized gains (losses)
on investments $6,129 $15,890 $16,161 ($29,825)
Preferred dividends paid from net investment income (444) (295) (818) (587)
Net increase (decrease) in net assets
from operations $16,666 $24,650 $36,471 ($11,936)
Earnings per Common Share Outstanding
-------------------------------------
Gross investment income $0.369 $0.311 $0.717 $0.633
Operating expenses (0.054) (0.047) (0.108) (0.096)
Interest expense (0.022) (0.022) (0.046) (0.044)
------ ------ ------ ------
Net investment income $0.293 $0.242 $0.563 $0.493
Net realized and unrealized gains (losses)
on investments $0.168 $0.426 $0.435 ($0.794)
Preferred dividends paid from net investment income (0.012) (0.008) (0.022) (0.016)
------ ------ ------ ------
Net increase (decrease) in net assets
from operations $0.449 $0.660 $0.976 ($0.317)
Net investment income $0.293 $0.242 $0.563 $0.493
Preferred dividends paid from net investment income (0.012) (0.008) (0.022) (0.016)
------ ------ ------ ------
Net investment income after preferred dividends $0.281 $0.234 $0.541 $0.477
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Net Asset Value at November 30 (Common Shares )
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Net assets (000) $599,276 $565,945
Shares outstanding (000) 37,547 37,487
Net asset value per share outstanding $15.96 $15.10
Market Value Summary (Common Shares )
------------------------------------
Market price on NYSE at November 30 $16.42 $14.53
High market price (six months ended November 30) $17.13 $16.57
Low market price (six months ended November 30) $14.87 $13.47
SOURCE Eaton Vance Management
