Income Opportunity Realty Investors, Inc. Reports Earnings for Quarter Ended September 30, 2024

DALLAS--(BUSINESS WIRE)--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