Energy management technology company,
Telkonet, Inc., announced their first quarter financial results with a 62 percent increase in revenue.
Telkonet, Inc. Records 62 Percent Increase in Revenue for First Quarter 2013
Telkonet, Inc. (OTC BB: TKOI), whose complementary business divisions include EcoSmart, an energy management technology platform featuring Recovery Time™ technology and EthoStream, one of the largest high-speed Internet access (“HSIA”) providers in the world, announced their 2013 first quarter financial results in which the Company recorded a 62% increase in revenue as a result of the continuing growth of its energy management technology solutions.
Telkonet management will hold a teleconference and webcast to discuss these results with the financial community today, Wednesday May 15th at 4:30 pm ET/3:30 pm CT.
“I am extremely pleased with the revenue growth we achieved in the first quarter, a quarter which, historically, has been our slowest. We continue to see strength across all of our addressable market sectors and the success we’re having in establishing strategic partnerships is allowing us to quickly and efficiently enter new and abundant marketplaces. The increase of over $1.0 million in revenue for the quarter indicates the increasing demand for our energy management technology solutions and that we have become a recognized leader in this rapidly-expanding industry” said Jason Tienor, CEO of Telkonet.
Financial Highlights for the First Quarter Ended March 31, 2013
- Revenue of $3.1 million, up 62 % compared to $1.9 million for the quarter ended March 31, 2012
- Negative adjusted EBITDA of $0.3 million for the quarter ended March 31, 2013 compared to a negatives
- $0.6 million for the quarter ended March 31, 2012
- Working capital deficit (current liabilities in excess of current assets) of $0.2 million at March 31, 2013. This represents an improvement of $1.2 million from a working capital deficit of $1.4 million at March 31, 2012
Teleconference and Webcast
The company will host a teleconference and webcast today at 4:30 PM ET to discuss these results with the financial community.
Date: Wednesday, May 15, 2013
Time: 4:30 p.m. Eastern Time (3:30 pm CT, 1:30 pm PT)
Investor Dial-In (Toll Free): (877)-407-0782
Investor Dial-In (International): (201)-689-8567
Live Webcast: http://www.investorcalendar.com/IC/CEPage.asp?ID=170979
A replay of the teleconference will be available until May 29th, 2013, which can be accessed by dialing (877) 660-6853 if calling within the United States or (201) 612-7415 if calling internationally. Please enter conference ID # 414350 to access the replay.