IOR Income Opportunity Realty Investments

Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended December 31, 2022. For the three months ended December 31, 2022, we reported net income attributable to common shares of $1.3 million or $0.30 per diluted share compared to a net income of $0.7 million or $0.17 per share for the same period in 2021. Our increase in net income is attributable to an increase in interest income due to an increase in interest rates in 2022.

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,

2022

 

2021

 

2022

 

2021

  Revenues:

Other Income

$

-

 

$

-

 

$

-

 

$

-

 

Expenses: General and administrative

 

77

 

 

94

 

 

451

 

 

470

 

Advisory fee to related party

 

351

 

 

259

 

 

1,175

 

 

1,108

 

Total operating expenses

 

428

 

 

353

 

 

1,626

 

 

1,578

 

Net operating loss

 

(428

)

 

(353

)

 

(1,626

)

 

(1,578

)

Interest income from related parties

 

2,096

 

 

1,256

 

 

6,602

 

 

4,953

 

Other Income

 

-

 

 

-

 

 

-

 

 

1,179

 

Income tax provision

 

(399

)

 

(188

)

 

(1,045

)

 

(956

)

Net income applicable to common shares

 

1,269

 

 

715

 

 

3,931

 

 

3,598

 

  Earnings per share Basic and diluted

$

0.30

 

$

0.17

 

$

0.94

 

$

0.86

 

  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/20230323005024/en/

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