PIMCO California Municipal Income Fund III announced earnings results for the first quarter ended December 31, 2011. For the quarter, the company reported net investment income of $4,161,460 or $0.19 per common share compared to $4,190,503 or $0.19 for the same period a year ago. Net realized and change in unrealized gain was $2,929,871 or $0.13 per common share compared to net realized and change in unrealized loss of $29,082,956 or $1.32 per common share for the same period a year ago. Net asset value per share at December 31, 2011 was $9.22 compared to $8.33 at December 31, 2010.