EATON VANCE CORP. 
By BOSTON, Jan. 27, 2011 /PRNewswire/ -- Eaton Vance New York Municipal Income Trust (NYSE Amex: EVY) (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 $1,289,723 ($0.237 per common share). From this amount, the Trust paid dividends on preferred shares of $35,337 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $1,254,386, or $0.230 per common share. The Trust's net investment income for the year ended November 30, 2010 was $5,176,320 ($0.954 per common share, before deduction of the preferred share dividends totaling $0.025 per common share), resulting in net investment income after the preferred dividends of $0.929 per common share. In comparison, for the three months ended November 30, 2009, the Trust had net investment income of $1,269,002 ($0.235 per common share). From this amount, the Trust paid dividends on preferred shares of $36,993 (equal to $0.007 for each common share), resulting in net investment income after the preferred dividends of $1,232,009, or $0.228 per common share. The Trust's net investment income for the year ended November 30, 2009 was $5,174,285 ($0.960 per common share, before deduction of the preferred share dividends totaling $0.042 per common share), resulting in net investment income after the preferred dividends of $0.918 per common share.
Net realized and unrealized losses for the three months ended November 30, 2010 were $4,808,239 ($0.889 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2010 were $909,352 ($0.166 per common share). In comparison, net realized and unrealized gains for the three months ended November 30, 2009 were $1,960,092 ($0.371 per common share). The Trust's net realized and unrealized gains for the year ended November 30, 2009 were $18,776,230 ($3.493 per common share).
On November 30, 2010, net assets of the Trust applicable to common shares were $71,372,379. The net asset value per common share on November 30, 2010 was $13.11 based on 5,443,476 common shares outstanding. In comparison, on November 30, 2009, net assets of the Trust applicable to common shares were $69,856,699. The net asset value per common share on November 30, 2009 was $12.92 based on 5,408,323 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 YORK 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 $1,290 $1,269 $5,176 $5,174
Net realized
and unrealized
gains (losses)
on investments (4,808) 1,960 909 18,776
Preferred
dividends paid
from net
investment
income (35) (37) (136) (226)
--- --- ---- ----
Net increase
(decrease) in
net assets
from operations $(3,553) $3,192 $5,949 $23,724
======= ====== ====== =======
Earnings per
Common Share
Outstanding
-------------
Net investment
income $0.237 $0.235 $0.954 $0.960
Net realized
and unrealized
gains (losses)
on investments (0.889) 0.371 0.166 3.493
Preferred
dividends paid
from net
investment
income (0.007) (0.007) (0.025) (0.042)
------ ------ ------ ------
Net increase
(decrease) in
net assets
from operations $(0.659) $0.599 $1.095 $4.411
======= ====== ====== ======
Net investment
income $0.237 $0.235 $0.954 $0.960
Preferred
dividends paid
from net
investment
income (0.007) (0.007) (0.025) (0.042)
------ ------ ------ ------
Net investment
income after
preferred
dividends $0.230 $0.228 $0.929 $0.918
====== ====== ====== ======
Net Asset Value
at November 30
(Common
Shares)
---------------
Net assets $71,372 $69,857
Shares
outstanding 5,443 5,408
Net asset value
per share
outstanding $13.11 $12.92
Market Value
Summary
(Common
Shares)
------------
Market price on
NYSE Amex at
November 30 $13.35 $13.20
High market
price (period
ended November
30) $14.75 $14.43
Low market
price (period
ended November
30) $12.86 $6.30
SOURCE Eaton Vance Management
