Telkonet (News 
- Alert), Inc., developer of the state-of-the-art EcoSmart energy management platform and a leading provider of Internet services for the hospitality industry, reported 18 percent revenue growth compared to last quarter amounting to $2.9 million in the second quarter ended June 30, 2011. The company reported gross margins of 55 percent for the quarter ended June 30, 2011 compared to 61 percent for the quarter ended March 31, 2011 and 58 percent for the quarter ended June 30, 2010. For second quarter 2011, Telkonet reported operating income of $0.1 million in comparison to $0.2 million for the quarters ended June 30, 2010 and March 31, 2011.
In a press release, Jason Tienor, President and Chief Executive Officer, Telkonet, said, “We're very pleased with our operational performance which drove quarterly cash flow from operations. We continue to deliver significant ongoing cost savings and generate strong cash flow. We continue to see strong business demand across all of our products, from individual customers to strategic relationships with enterprise Energy Service Companies (ESCOs). Right now we're very focused on the launch of our EcoGuard product and the continued market growth and penetration of our EcoSmart Suite. We're intent on providing our customers seamless and powerful ways of curbing energy consumption and our second quarter platform and inventory investments have positioned us securely for long-term growth.”
For the six months ended June 30, 2011 Telkonet reported revenue of $5.4 million, a decrease of 6 percent compared to $5.8 million in the six months ended June 30, 2010. Telkonet reported gross margins of 58 percent for the six months ended June 30, 2011, an increase of 2 percent, compared to 56 percent for the six months ended June 30, 2010. Operating income was around $0.3 million, or $0.01 per share, compared to an operating loss of ($0.5 million), or ($0.01) per share for the six months ended June 30, 2010, an increase of 160 percent.
Telkonet was in news recently when it announced that it has expanded the rollout of EcoSmart products and services to Facilities Management of the Student Housing Department at the University of California at Davis.
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Sujata Garud is a TMCnet freelancer with three years of writing/editing experience and two years of market research experience. As an editor she has covered the IT, electronics, banking, pharma, construction, mining and healthcare industries. To see more of her articles, please visit her columnist page.
Edited by Rich Steeves
