EATON VANCE CORP. 
By BOSTON, Jan. 27, 2011 /PRNewswire/ -- Eaton Vance New Jersey Municipal Income Trust (NYSE Amex: EVJ) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three months and year ended November 30, 2010. The Trust's fiscal year ended on November 30, 2010.
For the three months ended November 30, 2010, the Trust had net investment income of $1,067,746 ($0.230 per common share). From this amount, the Trust paid dividends on preferred shares of $35,133 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $1,032,613, or $0.223 per common share. The Trust's net investment income for the year ended November 30, 2010 was $4,440,964 ($0.957 per common share, before deduction of the preferred share dividends totaling $0.029 per common share), resulting in net investment income after the preferred dividends of $0.928 per common share. In comparison, for the three months ended November 30, 2009, the Trust had net investment income of $1,123,125 ($0.242 per common share). From this amount, the Trust paid dividends on preferred shares of $36,857 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $1,086,268, or $0.234 per common share. The Trust's net investment income for the year ended November 30, 2009 was $4,492,418 ($0.971 per common share, before deduction of the preferred share dividends totaling $0.048 per common share), resulting in net investment income after the preferred dividends of $0.923 per common share.
Net realized and unrealized losses for the three months ended November 30, 2010 were $4,409,016 ($0.946 per common share). The Trust's net realized and unrealized losses for the year ended November 30, 2010 were $1,367,280 ($0.290 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2009 were $2,122,307 ($0.458 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2009 were $18,921,572 ($4.091 per common share).
On November 30, 2010, net assets of the Trust applicable to common shares were $61,716,804. The net asset value per common share on November 30, 2010 was $13.26 based on 4,655,354 common shares outstanding. In comparison, on November 30, 2009, net assets of the Trust applicable to common shares were $62,792,492. The net asset value per common share on November 30, 2009 was $13.57 based on 4,627,486 common shares outstanding.
The Trust 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 $188.7 billion in assets as of December 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 www.eatonvance.com.
EATON VANCE NEW JERSEY MUNICIPAL INCOME TRUST
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended Year Ended
November 30, November 30,
------------ ------------
2010 2009 2010 2009
---- ---- ---- ----
Net investment income $1,068 $1,123 $4,441 $4,492
Net realized and
unrealized gains
(losses)
on investments (4,409) 2,122 (1,367) 18,922
Preferred dividends
paid from net
investment income (1) (35) (37) (136) (222)
--- --- ---- ----
Net increase (decrease)
in net assets
from operations $(3,376) $3,208 $2,938 $23,192
======= ====== ====== =======
Earnings per Common
Share Outstanding
-------------------
Net investment income $0.230 $0.242 $0.957 $0.971
Net realized and
unrealized gains
(losses)
on investments (0.946) 0.458 (0.290) 4.091
Preferred dividends
paid from net
investment income (1) (0.007) (0.008) (0.029) (0.048)
------ ------ ------ ------
Net increase (decrease)
in net assets
from operations $(0.723) $0.692 $0.638 $5.014
======= ====== ====== ======
Net investment income $0.230 $0.242 $0.957 $0.971
Preferred dividends
paid from net
investment income (1) (0.007) (0.008) (0.029) (0.048)
------ ------ ------ ------
Net investment income
after preferred
dividends $0.223 $0.234 $0.928 $0.923
====== ====== ====== ======
Net Asset Value at
November 30 (Common
Shares)
--------------------
Net assets $61,717 $62,792
Shares outstanding 4,655 4,627
Net asset value per
share outstanding $13.26 $13.57
Market Value Summary
(Common Shares)
--------------------
Market price on NYSE
Amex at November 30 $13.52 $14.04
High market price
(period ended November
30) $14.90 $14.85
Low market price
(period ended November
30) $13.17 $6.77
(1) During the year ended November 30, 2009, the Trust made a partial
redemption of its preferred shares.
SOURCE Eaton Vance Management
