Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended June 30, 2022

Rhea-AI Summary

Income Opportunity Realty Investors, Inc. reported a net income of $0.8 million for the quarter ended June 30, 2022, equating to $0.20 per diluted share. This result mirrors the previous quarter's performance. The company, based in Dallas, specializes in real estate investments through direct equity ownership and partnerships.

Positive

• Net income attributable to common shares remained stable at $0.8 million for both Q2 2022 and Q2 2021.
• Earnings per share (EPS) for Q2 2022 was $0.20, consistent with the previous year's EPS.

Negative

• No significant revenue growth reported in Q2 2022 compared to Q2 2021.
• Continued operating losses indicate potential challenges in achieving profitability.

DALLAS--(BUSINESS WIRE)-- Income Opportunity Realty Investors, Inc. (NYSE: American IOR) is reporting its results of operations for the quarter ended June 30, 2022. For the three months ended June 30, 2022 and 2021, we reported net income attributable to common shares of $0.8 million or $0.20 per diluted share.

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 June 30,								Six Months Ended June 30,
			2022				2021				2022				2021
Revenues:
Other Income		$	-			$	-			$	-			$	-
Expenses:
General and administrative			68				100				260				288
Advisory fee to related party			273				256				541				592
Total operating expenses			341				356				801				880
Net operating loss			(341	)			(356	)			(801	)			(880	)
Interest income from related parties			1,433				1,231				2,685				2,449
Other Income			-				162				-				1,179
Income tax provision			(244	)			(218	)			(410	)			(577	)
Net income applicable to common shares			848				819				1,474				2,171
Earnings per share
Basic and diluted		$	0.20			$	0.20			$	0.35			$	0.52
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 (469) 522-4200

Investor.relations@incomeopp-invest.com

Source: Income Opportunity Realty Investors, Inc.

FAQ

What were the earnings results for Income Opportunity Realty Investors, Inc. for Q2 2022?

Income Opportunity Realty Investors, Inc. reported a net income of $0.8 million for Q2 2022, equivalent to $0.20 per diluted share.

How did the earnings per share for IOR compare in 2022 and 2021?

Earnings per share for Income Opportunity Realty Investors, Inc. was $0.20 for both Q2 2022 and Q2 2021.

Was there any significant growth in revenue for IOR in Q2 2022?

The press release did not indicate any significant revenue growth for Income Opportunity Realty Investors, Inc. in Q2 2022 compared to Q2 2021.

What is the future outlook for Income Opportunity Realty Investors, Inc. following their Q2 2022 results?

The company continues to face operational losses, indicating challenges in profitability which may affect its future outlook.