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Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended September 30, 2022
Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended September 30,
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 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 View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005106/en/
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