04:57:07 EDT Thu 28 Mar 2024
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Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended June 30, 2022

2022-08-12 16:30 ET - News Release


Company Website: http://www.incomeopp-realty.com/
DALLAS -- (Business Wire)

Income Opportunity Realty Investors, Inc. (NYSE: American IOR) is reporting its results of operations for the quarter ended June 30, 2022. For the three months ended June 30, 2022 and 2021, we reported net income attributable to common shares of $0.8 million or $0.20 per diluted share.

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
June 30,

Six Months Ended
June 30,

2022

2021

2022

2021

Revenues:
Other Income

$

-

$

-

$

-

$

-

Expenses:
General and administrative

68

100

260

288

Advisory fee to related party

273

256

541

592

Total operating expenses

341

356

801

880

Net operating loss

(341

)

(356

)

(801

)

(880

)

Interest income from related parties

1,433

1,231

2,685

2,449

Other Income

-

162

-

1,179

Income tax provision

(244

)

(218

)

(410

)

(577

)

Net income applicable to common shares

848

819

1,474

2,171

Earnings per share
Basic and diluted

$

0.20

$

0.20

$

0.35

$

0.52

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

Contacts:

Income Opportunity Realty Investors, Inc.
Investor Relations
Erik Johnson (469) 522-4200
Investor.relations@incomeopp-invest.com

Source: Income Opportunity Realty Investors, Inc.

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