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

Rhea-AI Summary

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. This decrease of $0.7 million was primarily due to an absence of a tax credit that benefited the previous year's results.

Positive

• None.

Negative

• Net income decreased by $0.7 million compared to the previous year.
• Earnings per share dropped from $0.32 to $0.15.

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

 

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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 results for Income Opportunity Realty Investors (IOR) in Q1 2022?

In Q1 2022, IOR reported a net income of $0.6 million, or $0.15 per diluted share.

How does Income Opportunity Realty Investors (IOR) performance in Q1 2022 compare to Q1 2021?

IOR's Q1 2022 performance shows a decrease in net income from $1.4 million in Q1 2021 to $0.6 million in Q1 2022.

What contributed to the decline in net income for IOR in Q1 2022?

The decline in net income was primarily due to the absence of a tax credit that was received in the prior year.

What is the stock symbol for Income Opportunity Realty Investors?

The stock symbol for Income Opportunity Realty Investors is AMEX:IOR.