Penguin Solutions Inc
For the period ended Aug 30, 2024. Filed Oct 24, 2024.
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FY2024 · Filed Oct 24, 2024
PENG$45.70+9.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(In thousands, except per share amounts)
| Year ended | August 30,2024 | August 25,2023 | August 26,2022 |
|---|---|---|---|
| Net sales: | |||
| Products | $925,827 | $1,192,890 | $1,247,470 |
| Services | 244,969 | 248,360 | 148,406 |
| Total net sales | 1,170,796 | 1,441,250 | 1,395,876 |
| Cost of sales: | |||
| Products | 722,634 | 916,005 | 940,516 |
| Services | 107,386 | 110,074 | 64,315 |
| Total cost of sales | 830,020 | 1,026,079 | 1,004,831 |
| Gross profit | 340,776 | 415,171 | 391,045 |
| Operating expenses: | |||
| Research and development | 81,537 | 90,565 | 77,472 |
| Selling, general and administrative | 233,880 | 260,722 | 204,839 |
| Impairment of goodwill | — | 19,092 | — |
| Change in fair value of contingent consideration | — | 29,000 | 41,324 |
| Other operating (income) expense | 7,064 | 7,047 | 234 |
| Total operating expenses | 322,481 | 406,426 | 323,869 |
| Operating income (loss) | 18,295 | 8,745 | 67,176 |
| Non-operating (income) expense: | |||
| Interest expense, net | 28,378 | 36,421 | 24,345 |
| Other non-operating (income) expense | 21,084 | 11,837 | 350 |
| Total non-operating (income) expense | 49,462 | 48,258 | 24,695 |
| Income (loss) before taxes | (31,167) | (39,513) | 42,481 |
| Income tax provision (benefit) | 10,618 | (49,203) | 18,074 |
| Net income (loss) from continuing operations | (41,785) | 9,690 | 24,407 |
| Net income (loss) from discontinued operations | (8,148) | (195,384) | 44,185 |
| Net income (loss) | (49,933) | (185,694) | 68,592 |
| Net income attributable to noncontrolling interest | 2,539 | 1,832 | 2,035 |
| Net income (loss) attributable to Penguin Solutions | $(52,472) | $(187,526) | $66,557 |
| Basic earnings (loss) per share: | |||
| Continuing operations | $(0.85) | $0.16 | $0.45 |
| Discontinued operations | (0.15) | (3.94) | 0.90 |
| $(1.00) | $(3.78) | $1.35 | |
| Diluted earnings (loss) per share: | |||
| Continuing operations | $(0.85) | $0.15 | $0.41 |
| Discontinued operations | (0.15) | (3.80) | 0.81 |
| $(1.00) | $(3.65) | $1.22 | |
| Shares used in per share calculations: | |||
| Basic | 52,428 | 49,566 | 49,467 |
| Diluted | 52,428 | 51,322 | 54,443 |
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