July 31, 2012 at 16:25 PM EDT
Eaton Vance New York Municipal Income Trust Report Of Earnings

BOSTON, July 31, 2012 /PRNewswire/ -- Eaton Vance New York Municipal Income Trust (NYSE MKT: EVY) (the "Trust"), a closed-end management investment company, today announced the earnings of the Trust for the three and six-month periods ended May 31, 2012. The Trust's fiscal year ends on November 30, 2012.

For the three months ended May 31, 2012, the Trust had net investment income of $1,173,365 ($0.215 per common share).  From this amount, the Trust paid dividends on preferred shares of $26,043 (equal to $0.004 for each common share), resulting in net investment income after the preferred dividends of $1,147,322, or $0.211 per common share. The Trust's net investment income for the six months ended May 31, 2012 was $2,345,118 ($0.429 per common share, before deduction of the preferred share dividends totaling $0.007 per common share), resulting in net investment income after the preferred dividends of $0.422 per common share. In comparison, for the three months ended May 31, 2011, the Trust had net investment income of $1,318,016 ($0.241 per common share).  From this amount, the Trust paid dividends on preferred shares of $31,536 (equal to $0.005 for each common share), resulting in net investment income after the preferred dividends of $1,286,480, or $0.236 per common share. The Trust's net investment income for the six months ended May 31, 2011 was $2,622,643 ($0.481 per common share, before deduction of the preferred share dividends totaling $0.012 per common share), resulting in net investment income after the preferred dividends of $0.469 per common share. 

Net realized and unrealized gains for the three months ended May 31, 2012 were $1,456,744 ($0.260 per common share). The Trust's net realized and unrealized gains for the six months ended May 31, 2012 were $7,372,343 ($1.343 per common share). In comparison, net realized and unrealized gains for the three months ended May 31, 2011 were $2,695,470 ($0.491 per common share). The Trust's net realized and unrealized losses for the six months ended May 31, 2011 were $1,200,525 ($0.224 per common share).

On May 31, 2012, net assets of the Trust applicable to common shares were $79,949,538. The net asset value per common share on May 31, 2012 was $14.62 based on 5,467,385 common shares outstanding. In comparison, on May 31, 2011, net assets of the Trust applicable to common shares were $70,348,136. The net asset value per common share on May 31, 2011 was $12.90 based on 5,451,687 common shares outstanding.

The Trust 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").  Trust portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following month-end.

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 $192.3 billion in assets as of June 30, 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 NEW YORK MUNICIPAL INCOME TRUST

SUMMARY OF RESULTS OF OPERATIONS

(in thousands, except per share amounts)












Three Months Ended

Six Months Ended



May 31, 

May 31, 



2012


2011


2012


2011

Net investment income

$ 1,173


$ 1,318


$ 2,345


$ 2,623

Net realized and unrealized gains (losses)








  on investments

1,457


2,695


7,372


(1,201)

Preferred dividends paid from net investment income

(26)


(32)


(41)


(67)


Net increase (decrease) in net assets









  from operations

$ 2,604


$ 3,981


$ 9,676


$ 1,355










Earnings per Common Share Outstanding








Net investment income

$ 0.215


$ 0.241


$ 0.429


$  0.481

Net realized and unrealized gains (losses)








  on investments

0.260


0.491


1.343


(0.224)

Preferred dividends paid from net investment income

(0.004)


(0.005)


(0.007)


(0.012)


Net increase (decrease) in net assets









  from operations

$ 0.471


$ 0.727


$ 1.765


$  0.245










Net investment income

$ 0.215


$ 0.241


$ 0.429


$  0.481

Preferred dividends paid from net investment income

(0.004)


(0.005)


(0.007)


(0.012)

Net investment income after preferred dividends

$ 0.211


$ 0.236


$ 0.422


$  0.469










Net Asset Value at May 31 (Common Shares)









Net assets 





$79,950


$70,348


Shares outstanding 





5,467


5,452


Net asset value per share outstanding





$14.62


$12.90










Market Value Summary (Common Shares)









Market price on NYSE MKT at May 31





$14.81


$12.86


High market price (period ended May 31)





$15.19


$13.25


Low market price (period ended May 31)





$13.53


$11.82










SOURCE Eaton Vance Management

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