Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended September 30, 2024. For the three months ended September 30, 2024, we reported net income attributable to common shares of $1.2 million or $0.29 per diluted share compared to a net income of $1.6 million or $0.39 per share for the same period in 2023. Our decrease in net income is attributable to a decrease in interest income offset in part by a decrease in advisory fees.
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
September 30,
|
|
Nine Months Ended
September 30,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|
|
|
|
| Revenues: |
|
|
|
|
| Other Income |
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
| Expenses: |
|
|
|
|
|
|
|
|
| General and administrative |
|
|
71
|
|
|
|
91
|
|
|
|
230
|
|
|
|
385
|
|
| Advisory fee to related party |
|
|
26
|
|
|
|
346
|
|
|
|
76
|
|
|
|
1,045
|
|
| Total operating expenses |
|
|
97
|
|
|
|
437
|
|
|
|
306
|
|
|
|
1,430
|
|
| Net operating loss |
|
|
(97
|
)
|
|
|
(437
|
)
|
|
|
(306
|
)
|
|
|
(1,430
|
)
|
| Interest income from related parties |
|
|
1,614
|
|
|
|
2,516
|
|
|
|
4,785
|
|
|
|
7,160
|
|
| Income tax provision |
|
|
(319
|
)
|
|
|
(436
|
)
|
|
|
(941
|
)
|
|
|
(1,203
|
)
|
| Net income |
|
|
1,198
|
|
|
|
1,643
|
|
|
|
3,538
|
|
|
|
4,527
|
|
|
|
|
|
|
|
|
|
|
| Earnings per share |
|
|
|
|
|
|
|
|
| Basic and diluted |
|
$
|
0.29
|
|
|
$
|
0.39
|
|
|
$
|
0.87
|
|
|
$
|
1.09
|
|
|
|
|
|
|
|
|
|
|
| Weighted average common shares used in computing earnings per share |
|
|
|
|
|
|
|
|
| Basic and diluted |
|
|
4,070,327
|
|
|
|
4,168,414
|
|
|
|
4,085,134
|
|
|
|
4,168,414
|
|
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