Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2023

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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Income Opportunity Realty Investors, Inc. Investor Relations Erik Johnson [phone] [e-mail]