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 |
|
||
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Contacts
Income Opportunity Realty Investors, Inc.
Investor Relations
Erik Johnson (800) 400-6407
investor.relations@incomeopp-realty.com
