Income Opportunity Realty Investors, Inc. Reports Earnings for Q4 2021

Rhea-AI Summary

Income Opportunity Realty Investors, Inc. (NYSE American: IOR) reported its Q4 2021 results, showing a net income of $0.7 million or $0.17 per diluted share, down from $1.3 million or $0.32 per share in Q4 2020. This decrease of $0.6 million was primarily due to a prior year's tax credit. The company is based in Dallas and primarily invests in real estate through direct ownership and partnerships.

Positive

• None.

Negative

• Net income decreased by $0.6 million compared to Q4 2020.
• Earnings per share dropped from $0.32 to $0.17.

DALLAS--(BUSINESS WIRE)-- Income Opportunity Realty Investors, Inc. (NYSE American “IOR”) is reporting its results of operations for the quarter ended December 31, 2021. For the three months ended December 31, 2021, we reported net income attributable to common shares of $0.7 million or $0.17 per diluted share, compared to $1.3 million or $0.32 per diluted share for the same period in 2020.

Financial Results

Net income attributable to common shares decreased $0.6 million from $1.3 million for the three months ended December 31, 2020 to $0.7 million for the three months ended December 31, 2021. 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)
				Three Months Ended December 31,								Twelve Months Ended December 31,
					2021				2020				2021				2020
Revenues:
Other Income				$	-			$	-			$	-			$	-
Expenses:
General and administrative					94				89				470				450
Advisory fee to related party					259				316				1,108				1,139
Total operating expenses					353				405				1,578				1,589
Net operating loss					(353	)			(405	)			(1,578	)			(1,589	)
Interest income from related parties					1,256				1,302				4,953				5,373
Other Income					-				808				1,179				1,550
Income tax provision					(188	)			(358	)			(956	)			(1,120	)
Net income applicable to common shares					715				1,347				3,598				4,214
Earnings per share - basic and diluted
Basic and diluted				$	0.17			$	0.32			$	0.86			$	1.01
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

 

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Income Opportunity Realty Investors, Inc.

Investor Relations

Erik Johnson (800) 400-6407

investor.relations@incomeopp-realty.com

Source: Income Opportunity Realty Investors, Inc.

FAQ

What were the earnings for Income Opportunity Realty Investors in Q4 2021?

Income Opportunity Realty Investors reported earnings of $0.7 million or $0.17 per diluted share for Q4 2021.

How did the net income for IOR compare to the previous year?

Net income for IOR decreased by $0.6 million from $1.3 million in Q4 2020.

What factors contributed to the decrease in IOR's earnings per share?

The decrease in earnings per share was attributed to a tax credit received in the previous year.