Income Opportunity Realty Investors has a market cap of $13.9 million; its shares were traded at around $3.2 with a P/E ratio of 3.2 and P/S ratio of 44.3.
This is the annual revenues and earnings per share of IOT over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of IOT.
Highlight of Business Operations:Our revenues are composed of interest income on notes receivable. In accordance with ASC 805 “Business Combinations”, we recognize rental revenue of acquired in place and “above-market” and “below-market” leases at their fair values over the terms of the respective leases, as applicable.
We had net income of $356,000 or $0.08 per diluted earnings per share for the period ended September 30, 2012, as compared to a net loss applicable to common shares of $515,000 million or $0.13 per diluted earnings per share for the same period ended 2011.
We had net income applicable to common shares of $1.9 million or $0.44 per diluted earnings per share for the period ended September 30, 2012, as compared to a net loss applicable to common shares of $2.3 million or $0.56 per diluted earnings per share for the same period ended 2011.
Financial statement income varies from taxable income principally due to the accounting for income and losses of investees, gains and losses from asset sales, depreciation on owned properties, amortization of discounts on notes receivable and payable and the difference in the allowance for estimated losses. IOT has alternative minimum tax credit carryforwards available for 2012 and has a loss for federal income tax purposes after consolidation in the ARL group for the first nine months of 2012; therefore, it recorded no provision for income taxes.
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