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Telkonet swings to profit in Q1

Telkonet Inc. said its normalized net income for the first quarter was $107,540, compared with a loss of $432,430 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 10.4% from negative 16.8% in the year-earlier period.

Total revenue climbed 79.6% on an annual basis to $4.6 million from $2.6 million, and total operating expenses rose 36.6% on an annual basis to $4.4 million from $3.2 million.

Reported net income came to $120,120, or 0 cents per share, compared to a loss of $1.3 million, or a loss of 1 cents per share, in the prior-year period.