Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2023
August 10 2023 - 3:30PM
Business Wire
Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is
reporting its results of operations for the quarter ended June 30,
2023. For the three months ended June 30, 2023, we reported net
income attributable to common shares of $1.8 million or $0.44 per
diluted share compared to a net income of $0.8 million or $0.20 per
share for the same period in 2022. Our increase in net income is
attributable to an increase in interest income due to an increase
in interest rates in 2023.
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
EndedJune 30, Six Months EndedJune 30,
2023
2022
2023
2022
Revenues: Other Income
$
-
$
-
$
-
$
-
Expenses: General and administrative
76
68
294
260
Advisory fee to related party
380
273
699
541
Total operating expenses
456
341
993
801
Net operating loss
(456
)
(341
)
(993
)
(801
)
Interest income from related parties
2,778
1,433
4,644
2,685
Income tax provision
(488
)
(244
)
(767
)
(410
)
Net income
1,834
848
2,884
1,474
Earnings per share Basic and diluted
$
0.44
$
0.20
$
0.69
$
0.35
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
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version on businesswire.com: https://www.businesswire.com/news/home/20230810533240/en/
Income Opportunity Realty Investors, Inc. Investor Relations
Erik Johnson (469) 522-4200
Investor.relations@incomeopp-invest.com
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