Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended December 31, 2023

About this update from Income Opportunity Realty Investors, Inc.

Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended December 31, 2023. For the three months ended December 31, 2023, we reported net income attributable to common shares of $2.5 million or $0.60 per diluted share compared to net income of $1.3 million or $0.30 per share for the same period in 2022. Our increase in net income is attributable to an increase in interest income due to an increase in interest rates in 2023. 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 December 31,    Twelve Months Ended    December 31,        2023       2022       2023       2022           Revenues:           Other Income    $           -      $            -      $           -      $           -   Expenses:              General and administrative               105                     77                 490                 451   Advisory fee to related party                (75 )                 351                 970              1,175   Total operating expenses                 30                   428              1,460              1,626   Net operating loss                (30 )                 (428 )           (1,460 )            (1,626 ) Interest income from related parties            2,910                2,096            10,070              6,602   Income tax provision              (406 )               (399 )           (1,609 )          (1,045 ) Net income            2,474                1,269              7,001              3,931               Earnings per share              Basic and diluted    $       0.60      $         0.30      $       1.68      $       0.94               Weighted average common shares used in computing earnings per share                                                                                                                                      Basic and diluted     4,145,016       4,168,414       4,162,516       4,168,414                         View source version on businesswire.com: https://www.businesswire.com/news/home/20240321936232/en/

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