Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2022

Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2022




Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended March 31, 2022

DALLAS–(BUSINESS WIRE)–Income Opportunity Realty Investors, Inc. (NYSE American: IOR) is reporting its results of operations for the quarter ended March 31, 2022. For the three months ended March 31, 2022, we reported net income attributable to common shares of $0.6 million or $0.15 per diluted share, compared to $1.4 million or $0.32 per diluted share for the same period in 2021.

Financial Results

Net income attributable to common shares decreased $0.7 million from $1.4 million for the three months ended March 31, 2021 to $0.6 million for the three months ended March 31, 2022. The decrease in net income is primarily attributed to a tax credit received in the prior year.

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

March 31,

2022

 

2021

 
Revenues:
Other Income

$

 

$

 

Expenses:
General and administrative

 

192

 

 

188

 

Advisory fee to related party

 

268

 

 

336

 

Total operating expenses

 

460

 

 

524

 

Net operating loss

 

(460

)

 

(524

)

Interest income from related parties

 

1,252

 

 

1,218

 

Other Income

 

 

 

1,017

 

Income tax provision

 

(166

)

 

(359

)

Net income applicable to common shares

 

626

 

 

1,352

 

 
Earnings per share
Basic and diluted

$

0.15

 

$

0.32

 

 
Weighted average common shares used in computing earnings per share
Basic and diluted

 

4,168,414

 

 

4,168,414

 

 

 

Contacts

Income Opportunity Realty Investors, Inc.

Investor Relations

Erik Johnson (800) 400-6407

investor.relations@incomeopp-realty.com