Wauwatosa-based Telkonet Inc. today reported third quarter net income of $382,750, or 0 cents per share, compared to a loss of $480,478, or one cent lost per share, in the third quarter of 2013.
The energy management technology provider reported revenue of $4.1 million, up from $3.5 million in the same period a year ago.
Telkonet increased its investments in sales and marketing, as well as research and development, and gained traction in the domestic and international markets, in the hospitality and education segments.
“We’re pleased to report a second consecutive quarter of increasing profitability as the result of our successful strategy execution and are excited by the growth trajectory it has created,” said Jason Tienor, chief executive officer. “The primary drivers of our progress to date and the promise for our future are the continued adoption of our unique EcoSmart energy management platform and our effective expense management activities.
“… we’ve continued to manage our overhead expenses while increasing investments in sales and marketing to broaden our deal flow and research and development to advance our technological leadership. These initiatives position us for continued profitable growth moving forward.”