EATON VANCE CORP. 
By BOSTON, Jan. 12, 2012 /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, 2011. The Fund's fiscal year ends on May 31, 2012.
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. In comparison, for the three months ended November 30, 2010, the Fund had net investment income of $9,048,107 ($0.241 per common share). From this amount, the Fund paid dividends on preferred shares of $303,944 (equal to $0.008 for each common share), resulting in net investment income after the preferred dividends of $8,744,163 or $0.233 per common share. For the six months ended November 30, 2010, the Fund had net investment income of $18,424,298 ($0.492 per common share). From this amount, the Fund paid dividends on preferred shares of $624,117 (equal to $0.017 for each common share), resulting in net investment income after the preferred dividends of $17,800,181, or $0.475 per common share.
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). In comparison, net realized and unrealized gains for the three months ended November 30, 2010 were $20,510,716 ($0.552 per common share). The Fund's net realized and unrealized gains for the six months ended November 30, 2010 were $21,868,182 ($0.588 per common share).
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. In comparison, on November 30, 2010, net assets of the Fund applicable to common shares were $577,636,390. The net asset value per common share on November 30, 2010 was $15.43 based on 37,442,168 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 calendar quarter-end are also posted to the website approximately 30 days following quarter-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 $188.2 billion in assets as of October 31, 2011, 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,
------------ ------------
2011 2010 2011 2010
---- ---- ---- ----
Gross investment income $11,687 $11,856 $23,747 $23,932
Operating expenses (1,785) (1,860) (3,604) (3,538)
Interest expense (847) (948) (1,667) (1,970)
---- ---- ------ ------
Net investment income $9,055 $9,048 $18,476 $18,424
Net realized and unrealized
gains (losses)
on investments $15,890 $20,511 ($29,825) $21,868
Preferred dividends paid from
net investment income (295) (304) (587) (624)
Net increase (decrease) in net
assets
from operations $24,650 $29,255 ($11,936) $39,668
Earnings per Common Share
Outstanding
-------------------------
Gross investment income $0.311 $0.317 $0.633 $0.640
Operating expenses (0.047) (0.050) (0.096) (0.095)
Interest expense (0.022) (0.026) (0.044) (0.053)
------ ------ ------ ------
Net investment income $0.242 $0.241 $0.493 $0.492
Net realized and unrealized
gains (losses)
on investments $0.426 $0.552 ($0.794) $0.588
Preferred dividends paid from
net investment income (0.008) (0.008) (0.016) (0.017)
------ ------ ------ ------
Net increase (decrease) in net
assets
from operations $0.660 $0.785 ($0.317) $1.063
Net investment income $0.242 $0.241 $0.493 $0.492
Preferred dividends paid from
net investment income (0.008) (0.008) (0.016) (0.017)
------ ------ ------ ------
Net investment income after
preferred dividends $0.234 $0.233 $0.477 $0.475
====== ====== ====== ======
Net Asset Value at November 30
(Common Shares )
------------------------------
Net assets (000) $565,945 $577,636
Shares outstanding (000) 37,487 37,442
Net asset value per share
outstanding $15.10 $15.43
Market Value Summary (Common
Shares )
----------------------------
Market price on NYSE at
November 30 $14.53 $16.19
High market price (six
months ended November
30) $16.57 $16.47
Low market price (six
months ended November
30) $13.47 $14.31
SOURCE Eaton Vance Management
