Petaluma telecom supplier Calix Inc., which went public in March with an $82 million stock offering, saw sales grow 30 percent in the first quarter, company officials said Thursday.
"Demand for bandwidth is growing faster than the network can keep up," CEO Carl Russo told Wall Street analysts in the company's inaugural conference call.
Calix reported $48.2 million in quarterly revenue, compared to $37.1 million for the same period last year.
The company lost $10.2 million in the quarter ending March 27, compared to last year's $12.7 million loss.
Calix makes broadband access equipment that helps telephone and cable providers deliver voice, data and Internet service over their networks.
Calix has more than 500 customers whose networks serve 32 million subscribers, mostly in North America.
Russo said the company expects to gain from the federal government's $7.2 billion broadband stimulus program, which provides grants and loans for carriers to upgrade their networks in the rural U.S.
Calix customers received $56 million in stimulus money last quarter, he said. "We certainly hope those contracts come our way."
Calix has about 400 employees, most at its Petaluma headquarters. It has smaller facilities in Minneapolis and Boston.
Calix shares were priced at $13 in March and opened March 24 at $17 on the New York Stock Exchange.
On Thursday, they closed at $11.60, down about 2 percent from Wednesday's close.
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