WAUKESHA, WI -- (Marketwired) -- 10/24/17 -- Telkonet, Inc. (OTCQB: TKOI) (the "Company" or "Telkonet"), a leader in intelligent automation and occupancy-based energy management technology, today announced that the Company's board of directors has authorized a stock repurchase program of up to ten million shares of Telkonet's common stock. Under the program, share purchases may be made at the discretion of the Company, from time to time, in the open market and/or in private transactions. Share purchases by the Company will depend on economic and market conditions, share price, trading volume and other factors. The program does not have an expiration date and may be suspended or discontinued at any time.
Jason Tienor, Telkonet's President and Chief Executive Officer stated, "Our commitment remains on investing in the business first and foremost to capitalize on building shareholder value and increasing Telkonet's value proposition. However, we do recognize that opportunities may emerge for us to take advantage of our strong balance sheet to repurchase our shares. This share repurchase program affords us the flexibility to be opportunistic in our capital allocation strategy. More importantly though, the program offers an opportunity for us to reiterate our confidence in the strength and future growth potential of Telkonet to our shareholders."
Telkonet, Inc. (OTCQB: TKOI) provides innovative intelligent automation platforms at the forefront of the Internet of Things (IoT) space. Helping commercial audiences better manage operational costs, the company's EcoSmart intelligent automation platform is supported by a full-suite of IoT-connected devices that provide in-depth energy usage information and analysis, allowing building operators to reduce energy expenses. www.telkonet.com.
Telkonet Investor Relations
Source: Telkonet, Inc.
Released October 24, 2017