Telkonet, Inc. (TKOI) saw its loss widen to $1.38 million in the year compared with $0.19 million a year ago.

Revenue during the year grew 9.68 percent to $8.26 million from $7.53 million in the previous year. Gross margin for the year contracted 41 basis points over the previous year to 49.74 percent. Operating margin for the year stood at negative 47.52 percent as compared to a negative 39.62 percent for the previous year.

Operating loss for the year was $3.92 million, compared with an operating loss of $2.98 million in the previous year.

However, the adjusted EBITDA from continuing operations for the year stood at negative $3.83 million compared to negative $2.94 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 46.44 percent for the year compared to negative 39.04 percent in the last year.

"Telkonet continues to make solid progress on our strategic initiatives demonstrated by the 8% growth of our EcoSmart automation platform through 2016," stated Jason Tienor, Telkonet's president and chief executive officer. "This strategy is what led us to the recently announced decision to divest our high-speed Internet access (HSIA) assets in order to focus on the enormous growth potential for EcoSmart. Now, capitalized appropriately and focused strategically, we're better positioned than ever before to recognize the expansive opportunities available in the IoT and automation space."