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

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

 

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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.