Company: PENG
Filing Date: 2025-04-02
Form Type: 10-Q
Source: 0001628280-25-016182
Chunk: 4

Company: Penguin Solutions, Inc.
Filing Date: 2025-04-02
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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,497 2.6 %7,006 1.0 %16,480 2.9 %Income (loss) before taxes16,514 4.5 %(10,809)(3.8)%28,838 4.1 %(18,487)(3.3)% Income tax provision7,643 2.1 %2,198 0.8 %14,003 2.0 %5,732 1.0 %Net income (loss) from continuing operations8,871 2.4 %(13,007)(4.6)%14,835 2.1 %(24,219)(4.3)%Net loss from discontinued operations— — %— — %— — %(8,148)(1.5)%Net income (loss)8,871 2.4 %(13,007)(4.6)%14,835 2.1 %(32,367)(5.8)%Net income attributable to noncontrolling interest789 0.2 %613 0.2 %1,536 0.2 %1,174 0.2 %Net income (loss) attributable to Penguin Solutions8,082 2.2 %(13,620)(4.8)%13,299 1.9 %(33,541)(6.0)%Preferred share dividends2,600 0.7 %— — %2,600 0.4 %— — %Income available for distribution5,482 1.5 %(13,620)(4.8)%10,699 1.5 %(33,541)(6.0)%Income allocated to participating securities482 0.1 %— — %492 0.1 %— — %Net income available to ordinary shareholders$5,000 1.4 %$(13,620)(4.8)%$10,207 1.4 %$(33,541)(6.0)%

Percentages represent percentage of total net sales. Summations of percentages may not compute precisely due to rounding.

Net Sales, Cost of Sales and Gross Profit

Net sales increased by $80.7 million, or 28.3%, and $147.6 million, or 26.4%, in the second quarter and first six months of