Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended December 31, 2024. For the three months ended December 31, 2024, we reported net income attributable to common shares of $1.1 million or $0.27 per diluted share compared to a net income of $2.5 million or $0.60 per share for the same period in 2023. Our decrease in net income is attributable to a decrease in interest income, offset in part by an increase in advisory fees.
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, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenues: | |||||||||||||||
Other income | $ | - | $ | - | $ | - | $ | - | |||||||
| Expenses: | |||||||||||||||
General and administrative | 74 | 105 | 304 | 490 | |||||||||||
Advisory fee to related party | 32 | (75 | ) | 108 | 970 | ||||||||||
Total operating expenses | 106 | 30 | 412 | 1,460 | |||||||||||
Net operating loss | (106 | ) | (30 | ) | (412 | ) | (1,460 | ) | |||||||
Interest income from related parties | 1,514 | 2,910 | 6,299 | 10,070 | |||||||||||
Income tax provision | (295 | ) | (406 | ) | (1,236 | ) | (1,609 | ) | |||||||
Net income | 1,113 | 2,474 | 4,651 | 7,001 | |||||||||||
| Earnings per share | |||||||||||||||
Basic and diluted | $ | 0.27 | $ | 0.60 | $ | 1.14 | $ | 1.68 | |||||||
| Weighted average common shares used in computing earnings per share | |||||||||||||||
Basic and diluted | 4,070,327 | 4,145,016 | 4,080,369 | 4,162,516 | |||||||||||
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