Eaton Vance

Eaton Vance Corp. posted a 43% profit drop for its fiscal fourth quarter today after incurring $17.4 million in impairments stemming from the credit crunch. The Boston-based investment management firm’s net income for the quarter ended Oct. 31 fell to $35 million, or 28 cents per share, from $61.4 million, or 47 cents per share, in the year-ago period. Eaton Vance’s assets under management at the close of its fourth quarter were $123.09 billion, a 24% decline from the $161.67 billion reported a year ago. Eaton Vance recorded a $13.2 million impairment charge during the fourth quarter on investments in collateralized debt obligations and $4.2 million of net realized and unrealized losses on separate account investments.