Telkonet Announces First Quarter 2017 Financial Results

Telkonet (OTCQB:TKOI) has announced its financial results for the quarter ended March 31, 2016.
As quoted in the press release:

“With the divestiture of Telkonet’s hospitality networking assets at the end of the first quarter, we’ve begun a new chapter in the evolution of Telkonet as a leader in intelligent automation and the commercial Internet-of-Things (IoT) industry,” stated Jason Tienor, Telkonet’s President and Chief Executive Officer. “While a significant investment in time and resources to reach a successful conclusion, the completion of this transaction has enabled us to focus on the emerging IoT market, secure key partnerships, expand target markets and enter into opportunities not available to us previously.”
Operating and Financial Highlights Comparison for the First Quarter Ended March 31, 2017 and 2016:

• The Company completed the divestiture of its hospitality networking assets for $12.75 million
• Net income attributable to common stockholders increased to $5.66 million from $0.12 million in the prior year period
• Working capital from continuing operations increased to $11.36 million for the quarter ended March 31, 2017 compared to $5.32 million for the year ended December 31, 2016.
• Significant growth achieved in channel sales due to national training of ESCO partner
• Extensive activity in Military segment due to housing ESCO housing activity
• Current quarter saw dramatic growth in the Education, OEM and International market segments

“Telkonet’s mission to maximize shareholder value has reached a milestone beginning with the second quarter of 2017. Through capitalizing the business to focus on the enormous growth opportunity of our EcoSmart Platform, we’ve strategically positioned the company for overall revenue growth and dramatically increased market share. 2017 will represent a hallmark year for Telkonet and our EcoSmart Platform overall.”

Click here to read the full press release.