Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended September 30, 2022

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11/10/2022 - 04:30 PM

DALLAS--(BUSINESS WIRE)-- Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended September 30, 2022. For the three months ended September 30, 2022 and 2021, we reported net income attributable to common shares of $1.2 million or $0.29 per diluted share compared to a net income of $0.7 million or $0.17 per share for the same period in 2021.

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 September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021

Revenues:
Other Income	$	-		$	-		$	-		$	-
Expenses:
General and administrative		114			88			374			376
Advisory fee to related party		283			257			824			849
Total operating expenses		397			345			1,198			1,225
Net operating loss		(397	)		(345	)		(1,198	)		(1,225	)
Interest income from related parties		1,821			1,248			4,506			3,697
Other Income		-			-			-			1,179
Income tax provision		(236	)		(191	)		(646	)		(768	)
Net income applicable to common shares		1,188			712			2,662			2,883

Earnings per share
Basic and diluted	$	0.29		$	0.17		$	0.64		$	0.69

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