Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2022

Income Opportunity Realty Investors, Inc. (IOR) reported Q1 2022 net income of $0.6 million or $0.15 per diluted share, declining from $1.4 million or $0.32 per diluted share in Q1 2021.

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05/13/2022 - 04:30 PM EDT

DALLAS--(BUSINESS WIRE)-- Income Opportunity Realty Investors, Inc. (NYSE American: IOR) is reporting its results of operations for the quarter ended March 31, 2022. For the three months ended March 31, 2022, we reported net income attributable to common shares of $0.6 million or $0.15 per diluted share, compared to $1.4 million or $0.32 per diluted share for the same period in 2021.

Financial Results

Net income attributable to common shares decreased $0.7 million from $1.4 million for the three months ended March 31, 2021 to $0.6 million for the three months ended March 31, 2022. The decrease in net income is primarily attributed to a tax credit received in the prior year.

About Income Opportunity Realty Investors, Inc.

Income Opportunity Realty Investors, Inc., a Dallas-based real estate investment company, currently holds a portfolio of notes receivable. The Company invests in real estate through direct equity ownership and partnerships. For more information, visit the Company’s website at www.incomeopp-realty.com.


INCOME OPPORTUNITY REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
	Three Months Ended
	March 31,
	2022			2021

Revenues:
Other Income	$	-		$	-
Expenses:
General and administrative		192			188
Advisory fee to related party		268			336
Total operating expenses		460			524
Net operating loss		(460	)		(524	)
Interest income from related parties		1,252			1,218
Other Income		-			1,017
Income tax provision		(166	)		(359	)
Net income applicable to common shares		626			1,352

Earnings per share
Basic and diluted	$	0.15		$	0.32

Weighted average common shares used in computing earnings per share
Basic and diluted		4,168,414			4,168,414