Telkonet declares financial results for Q1 2012
May 23, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Provider of energy management technology Telkonet Inc TKOI, developer of the EcoSmart energy management platform that incorporates patented Recovery Time technology, on Tuesday announced its financial results for the first quarter ended 31 March 2012.
Net loss for the company's first quarter was USD0.7m, in comparison to net income of USD0.9m for the quarter ended 31 March 2011. Diluted income per common share was recorded as a loss of USD0.01 for the first quarter 2012, compared to diluted income per common share of USD0.01 in the same quarter last year.
Revenue for this year's first quarter decreased by 22% to USD1.9m, compared to revenue of USD2.5m for same period in 2011.
The company stated that it had cash and cash equivalents of USD0.5m for the quarter ended 31 March 2012, compared to USD0.2m for the 2011 first quarter.
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