A power management device is adapted to reduce power consumption, particularly in battery-powered applications such as within a node in a utility network (e.g., in a gas, water, or other utility application). In one example, a low-current voltage regulator provides power to a processor during low-power “sleep” states. A high-current voltage regulator provides power to the processor, metrology devices and/or a radio during “awake” states. A buck-boost device may provide power to a transmitter during radio frequency (RF) transmissions. A max device may determine a greater of voltages output by a battery and the buck-boost device, and use the higher to power the high-current voltage regulator. The power management device may include a state machine, which may include several states and operations to perform within each state. In one state, the processor enters a sleep state prior to recovery of battery voltage after a transmission state.