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INCOME OPPORTUNITY REALTY TRUST REPORTS SECOND QUARTER RESULTS

 INCOME OPPORTUNITY REALTY TRUST REPORTS SECOND QUARTER RESULTS
 DALLAS, Aug. 13 /PRNewswire/ -- Income Opportunity Realty Trust (AMEX: IOT) reported a net loss of $157,000 or 18 cents per share, on revenues of $1.8 million for the three months ended June 30, 1992. This compares with a net loss of $1.0 million, or $1.10 per share, on revenues of $785,000 for the second quarter of 1991.
 For the six months ended June 30, 1992, Income Opportunity Realty Trust recorded a net loss of $559,000, or 65 cents per share, compared with a net loss of $353,000, or 38 cents per share, in the first six months of 1991. Revenues increased from $2.9 million to $3.2 million over the same period.
 Net rental income increased to $1.3 million for the six months ended June 30, 1992, as compared with $950,000 for the corresponding period in 1991. This increase was primarily attributable to the transfer into the portfolio of Porticos Apartments in Milwaukee, the insubstance foreclosure of two assets, and a decrease in operating expenses at several of the trust's remaining properties. These increases were offset by the transfer out of the portfolio of Rio Pinar Shopping Center and the foreclosure of Corona Hills Industrial Center.
 Income Opportunity Realty Trust is a combination mortgage and equity real estate investment trust which operates nationwide.
 INCOME OPPORTUNITY REALTY TRUST
 Financial Highlights
 (in thousands, except share and per share data)
 Periods ended Three months Six months
 June 30, 1992 1991 1992 1991
 Total revenue $ 1,788 $ 785 $ 3,223 $ 2,934
 Loss before
 extraordinary gain
 and (loss) on sale
 of real estate (76) (1,013) (478) (5,118)
 Loss on sale of
 real estate (81) - (81) -
 Extraordinary gain - - - 4,765
 Net loss $ (157) $ (1,013) $ (559) $ (353)
 Net loss
 per share $(0.18) $ (1.10) $ (0.65) $(0.38)
 Weighted average
 shares of
 beneficial
 interest 864,321 919,085 864,321 920,006
 -0- 8/13/92
 /CONTACT: Jean Krone Bono of Income Opportunity Realty Trust, 214-692-4800/
 (IOT) CO: Income Opportunity Realty Trust ST: Texas IN: FIN SU: ERN


SH -- NY019 -- 9521 08/13/92 10:13 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
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