Telkonet, Inc. reports flat revenue in first quarter

Freeman Staff

May 13, 2015

MILWAUKEE The revenue for the first quarter of 2015 was flat for Telkonet, but gross profit improved 21 percent, according to a Wednesday report.

Despite flat overall revenue of $2.6 million in the first quarter, recurring revenue increased 8 percent when compared to the same period in 2014. Gross Profit increased by $0.2 million or 21 percent and gross margins increased to 48 percent, compared to 39 percent.

Jason Tienor, CEO of Telkonet, the creator of the EcoSmart platform of in-room automation solutions integrated to optimize energy efficiency, comfort and data collection, said the first quarter is generally the company’s slowest period.

"While the year began slower than hoped, we’ve since seen our deal flow increase rapidly as we’ve entered our busiest season, especially for deployments within the education market. This activity should enable our continued year-over-year topline growth while driving profitability for full year 2015," he said in a statement.