Germantown,
MD, Telkonet, Inc. (AMEX: TKO), the leading technology solutions provider
for
broadband networking, end-to-end service support and energy
management, has
entered
a new phase in its corporate evolution, following a successful program of
business consolidation and senior management restructuring, triggered by
recent
notification of executive retirements and acquisitions. The
restructuring includes the retirement of two original members of Telkonet’s
management team. Steve Sadle, senior vice president, director and co-founder
of
Telkonet, as well as chief marketing officer, Bob Crabb, retired on July
27,
2007 and September 21, 2007 respectively. The Board of Directors approved
this
action at the September 19, 2007 Board meeting.
Ron
Pickett, president and chief executive officer of Telkonet, commented: “We would
like to thank Steve and Bob for their outstanding contributions to Telkonet’s
success since its founding in 1999. They have played an important role in
enabling us to achieve our strong position, and retire confident in the
knowledge that the organization is in excellent shape.”
Telkonet
is now ideally positioned to maintain revenue growth and extend its leadership
position within the hospitality, government and energy management sectors.
Ron
Pickett continued, “The recent strengthening of our management team, with the
appointment of Jason Tienor as chief operating officer and Dottie Cleal as
executive vice president, has provided an important new energy and drive.
We
recently reported strong revenue growth for Q2, and anticipate maintaining
this
trend through the fourth quarter. We are achieving our aggressive targets
for
cost consolidation, following the successful integration of the recently
acquired Smart Systems, Inc. and EthoStream businesses. By identifying and
leveraging the clear synergies that exist, we have succeeded in creating
a more
streamlined and efficient organization. The market reaction to a fully
integrated proposition across our broadband networking and energy management
solutions is also positive, particularly within the hospitality
sector.”
Jason
Tienor and Dottie Cleal’s positioning within Telkonet represents a key component
in realizing the company’s forward strategic vision. Telkonet’s COO Jason
Tienor, expanded, “Our focus is on providing a comprehensive technology platform
through the integration of our core products and services. Leveraging the
benefits of each organization has allowed us to reduce operating costs while
creating an efficient organization centered on technology and
performance.”
(more)
About
Telkonet
Telkonet
specializes in advanced integrated solutions for broadband data networking
and
energy management,
including its highly successful in-building powerline communications (PLC)
technology. Headquartered in Germantown, Maryland, USA, Telkonet has over
140
employees and serves thousands of customers worldwide.
The
company’s unique broadband networking solutions currently support more than a
million network users per month, with its energy management systems optimizing
energy consumption in over 60,000 rooms. Telkonet’s technology innovation is
underpinned by the highest level of end-to-end quality of service, with
comprehensive technical customer support. Its systems deliver wide-ranging
functionality, from wired and wireless high-speed Internet access to energy
management, IP surveillance and local area networking. Telkonet’s platforms are
widely deployed on the global stage – in single buildings and ships, in
multi-building complexes, hospitality venues and multi-dwelling units, and
at
government, education and defense locations.
Telkonet’s
innovations include the revolutionary Telkonet iWire System™, which
converts a
site’s existing internal electrical infrastructure into an IP network backbone
–
quickly, cost-effectively and without disruption. The portfolio also includes
the integrated EthoStream product suite, providing a comprehensive and advanced
technology management platform for the hospitality industry, differentiated
by
outstanding remote management tools and a dedicated customer support facility.
Telkonet SmartEnergy completes the line-up, delivering typical bottom
line
savings of 30% by controlling in-room energy consumption according to occupancy.
For more information, please visit www.telkonet.com.
Contacts:
Joe
Noel
Telkonet
240.912.1851
Andrew
Hellman
CEOcast
212.732.4300
adhellman@ceocast.com
Statements
included in this release may constitute forward-looking statements within
the
meaning of the Private Securities Litigation Reform Act of 1995. Such statements
involve a number of risks and uncertainties such as competitive factors,
technological development, market demand and the Company’s ability to obtain new
contracts and accurately estimate net revenues due to variability in size,
scope
and duration of projects, and internal issues in the sponsoring client. Further
information on potential factors that could affect the Company’s financial
results, can be found in the Company’s Registration Statement and in its Reports
on Forms 8-K filed with the Securities and Exchange Commission
(SEC).