Milwaukee-based Telkonet Inc. today reported second quarter net income of $219,085, or 0 cents per share, compared to a net loss of $621,510 in the second quarter of 2013.
Net revenue was $4.4 million, up from $3.6 million in the same period a year ago.
The company has a gross profit margin of 49 percent, up from 41 percent in the second quarter of 2013. It also reduced operating expenses by 20 percent.
“We are encouraged with our positive performance which continues to track in accordance with our strategic growth plans,” said Jason Tienor, chief executive officer of Telkonet. “Increasing demand for our EcoSmart energy management platform drove overall growth in total revenues by 21 percent in the second quarter. Beyond our top line, we excelled in all key financial and operational performance measures. This progress is a clear indication of the heightened recognition for our exceptional cloud-based energy efficiency solutions and that our profitable growth strategies are being successfully implemented.”
