Welcome!

Microsoft Cloud Authors: Pat Romanski, Liz McMillan, Lori MacVittie, Elizabeth White, Yeshim Deniz

News Feed Item

Eaton Vance Floating-Rate Income Trust Report Of Earnings

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













Net Asset Value at November 30 (Common Shares )










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

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.

IoT & Smart Cities Stories
The hierarchical architecture that distributes "compute" within the network specially at the edge can enable new services by harnessing emerging technologies. But Edge-Compute comes at increased cost that needs to be managed and potentially augmented by creative architecture solutions as there will always a catching-up with the capacity demands. Processing power in smartphones has enhanced YoY and there is increasingly spare compute capacity that can be potentially pooled. Uber has successfully ...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Chris Matthieu is the President & CEO of Computes, inc. He brings 30 years of experience in development and launches of disruptive technologies to create new market opportunities as well as enhance enterprise product portfolios with emerging technologies. His most recent venture was Octoblu, a cross-protocol Internet of Things (IoT) mesh network platform, acquired by Citrix. Prior to co-founding Octoblu, Chris was founder of Nodester, an open-source Node.JS PaaS which was acquired by AppFog and ...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace.
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
"MobiDev is a Ukraine-based software development company. We do mobile development, and we're specialists in that. But we do full stack software development for entrepreneurs, for emerging companies, and for enterprise ventures," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...