EX-99.1 2 ex99-1.htm PRESS RELEASE

 

Income Opportunity Realty Investors, Inc. 8-K

 

Exhibit 99.1

 

NEWS RELEASE   Contact:
    Income Opportunity Realty Investors, Inc. Investor Relations
FOR IMMEDIATE RELEASE   Erik Johnson (469) 522-4200 [email protected]

 

Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended June 30, 2024

 

DALLAS (August 8, 2024) -- Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended June 30, 2024. For the three months ended June 30, 2024, we reported net income attributable to common shares of $1.2 million or $0.28 per diluted share compared to a net income of $1.8 million or $0.44 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 June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
Revenues:                
Other income  $—   $—   $—   $— 
Expenses:                    
General and administrative   93    76    159    294 
Advisory fee to related party   21    380    50    699 
Total operating expenses   114    456    209    993 
Net operating loss   (114)   (456)   (209)   (993)
Interest income from related parties   1,585    2,778    3,171    4,644 
Income tax provision   (309)   (488)   (622)   (767)
Net income  $1,162   $1,834   $2,340   $2,884 
                     
Earnings per share                    
Basic and diluted  $0.28   $0.44   $0.57   $0.69 
Weighted average common shares used in computing earnings per share                    
Basic and diluted   4,107,131    4,168,414    4,092,618    4,168,414