Eaton Vance Insured New Jersey Municipal Bond Fund Report of Earnings.BOSTON -- Eaton Vance Eaton Vance is an American financial services company headquartered in Boston, MA. It is traded on the New York Stock Exchange under the symbol EV.[1] At the end of the second quarter of the 2006 fiscal year, the company had assets under management of $118.8 billion. Insured New Jersey Municipal Bond Fund Municipal Bond Fund A mutual fund that invests in municipal bonds, operating either as an investment trust or as an open-end fund. Notes: Because the bonds are local government issues, they usually help to maximize tax-exempt income. (AMEX AMEX See: American Stock Exchange :EMJ EMJ Emergency Medicine Journal ) (the "Fund"), a closed-end investment company closed-end investment company: see mutual fund. , today announced the earnings of the Fund for the three and nine month periods ended June 30, 2006. The Fund's fiscal year ends on September 30, 2006. E[acute accent acute accent n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]For the three months ended June 30, 2006, the Fund had net investment income of $639,629 ($0.250 per common share). From this amount, the Fund paid dividends on preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. of $179,767 (equal to $0.070 for each common share), resulting in net investment income after the preferred dividends preferred dividend n. a payment of a corporation's profits to holders of preferred shares of stock. (See: preferred stock) of $459,862, or $0.180 per common share. The Fund's net investment income for the nine months ended June 30, 2006 was $1,926,250 ($0.752 per common share, before deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. of the preferred share dividends totaling $0.185 per common share), resulting in net investment income after the preferred dividends of $0.567 per common share. In comparison, for the three months ended June 30, 2005, the Fund had net investment income of $652,034 ($0.255 per common share). From this amount, the Fund paid dividends on preferred shares of $127,504 (equal to $0.050 for each common share), resulting in net investment income after the preferred dividends of $524,530, or $0.204 per common share. The Fund's net investment income for the nine months ended June 30, 2005 was $2,010,628 ($0.786 per common share, before deduction of the preferred share dividends totaling $0.113 per common share), resulting in net investment income after the preferred dividends of $0.673 per common share. E[acute accent]Net realized and unrealized losses Unrealized Loss A loss that results from holding onto an asset rather than cashing it in and officially taking the loss. Notes: Let's say you own a stock that is down 50%, but you haven't sold it to realize the loss yet. This is said to be an unrealized loss. for the three months ended June 30, 2006 were $1,092,626 ($0.426 per common share). The Fund's net realized and unrealized losses for the nine months ended June 30, 2006 were $963,110 ($0.376 per common share). In comparison, net realized and unrealized gains Unrealized Gain A profit that results from holding on to an asset rather than cashing it in and using the funds. Notes: Let's say you own a stock that has doubled, but you haven't sold it yet. This is said to be an unrealized gain. for the three months ended June 30, 2005 were $1,381,106 ($0.540 per common share). The Fund's net realized and unrealized gains for the nine months ended June 30, 2005 were $1,686,377 ($0.659 per common share). E[acute accent]On June 30, 2006, net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. of the Fund applicable to common shares were $37,934,545. The net asset value per common share on June 30, 2006 was $14.80 based on 2,563,512 common shares outstanding. In comparison, on June 30, 2005, net assets of the Fund applicable to common shares were $39,924,725. The net asset value per common share on June 30, 2005 was $15.60 based on 2,559,706 common shares outstanding. E[acute accent]Common shares of the Fund are traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . The Fund is managed by Eaton Vance Management, a subsidiary of Eaton Vance Corp, which is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol EV. Eaton Vance and its affiliates had approximately $120.4 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. on July 31, 2006. Eaton Vance Management will make available periodic summary information regarding portfolio investments. Those interested should call Eaton Vance at (800) 262-1122.
EATON VANCE INSURED NEW JERSEY MUNICIPAL BOND FUND
SUMMARY OF RESULTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Nine Months
Ended Ended
June 30, June 30,
----------------- -----------------
2006 2005 2006 2005
-------- -------- -------- --------
Gross investment income $750 $759 $2,266 $2,330
Operating expenses ($110) ($107) ($339) ($319)
-------- -------- -------- --------
Net investment income $640 $652 $1,927 $2,011
Net realized and unrealized gains
(losses) on investments ($1,093) $1,381 ($963) $1,686
Preferred dividend paid from net
investment income ($179) ($128) ($474) ($289)
Net increase (decrease) in net
assets from operations ($632) $1,905 $490 $3,408
======== ======== ======== ========
Earnings per Share Outstanding
-----------------------------------
Gross investment income $0.292 $0.297 $0.884 $0.911
Operating expenses ($0.042) ($0.042) ($0.132) ($0.125)
-------- -------- -------- --------
Net investment income $0.250 $0.255 $0.752 $0.786
Net realized and unrealized gains
(losses) on investments ($0.429) $0.547 ($0.376) $0.659
Preferred dividend paid from net
investment income ($0.070) ($0.050) ($0.185) ($0.113)
Net increase (decrease) in net
assets from operations ($0.249) $0.752 $0.191 $1.332
======== ======== ======== ========
Net investment income $0.250 $0.255 $0.752 $0.786
Preferred dividend paid from net
investment income ($0.070) ($0.050) ($0.185) ($0.113)
-------- -------- -------- --------
Net investment income after
preferred dividend $0.180 $0.205 $0.567 $0.673
======== ======== ======== ========
Net Asset Value at June 30, (Common
Shares)
-----------------------------------
Net assets (000) $37,935 $39,925
Shares outstanding (000) 2,564 2,560
Net asset value per share
outstanding $14.80 $15.60
Market Value Summary (Common
Shares)
-----------------------------------
Market price on AMEX at June 30 $14.76 $16.62
High market price (six months
ended June 30) $17.30 $17.00
Low market price (six months
ended June 30) $14.66 $15.00
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