Company: PENG
Filing Date: 2025-01-08
Form Type: 10-Q
Source: 0001628280-25-000944
Chunk: 43

Company: Penguin Solutions, Inc.
Filing Date: 2025-01-08
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
 group, under our SMART Modular Technologies brand, provides high-performance and reliable integrated memory solutions through the design, development and advanced packaging of leading-edge to extended lifecycle products. These specialty products are tailored to meet customer-specific requirements across networking and communications, enterprise storage and computing, including server applications and other vertical markets. These products are marketed to original equipment manufacturers and to commercial and government customers. The Integrated Memory group also offers SMART Supply Chain Services, which provides customized, integrated supply chain services to enable our customers to better manage supply chain planning and execution, reduce costs and increase productivity.•Optimized LED: Our Optimized LED group, under our Cree LED brand, offers a broad portfolio of application-optimized LEDs focused on improving lumen density, intensity, efficacy, optical control and/or reliability. Backed by expert design assistance and superior sales support, our LED products enable our customers to develop and market LED-based products for general lighting, video displays and specialty lighting applications.

23

Segments are determined based on sources of revenue, types of customers and operating performance. There are no differences between the accounting policies for our segment reporting and our consolidated results of operations. Operating expenses directly associated with the activities of a specific segment are charged to that segment. Certain other indirect operating income and expenses are generally allocated to segments based on their respective percentage of net sales. We do not identify (other than goodwill) or report internally our assets nor allocate certain expenses and amortization, interest, other non-operating (income) expense or taxes to segments.Three Months EndedNovember 29,2024December 1,2023Net sales:Advanced Computing$177,426 $118,824 Integrated Memory96,706 85,668 Optimized LED66,970 69,755 Total net sales$341,102 $274,247 Segment operating income:Advanced Computing$30,117 $17,901 Integrated Memory7,116 7,195 Optimized LED3,685 1,583 Total segment operating income40,918 26,679 Unallocated:Share-based compensation expense(11,531)(10,970)Amortization of acquisition-related intangibles(9,755)(10,008)Cost of sales-related restructuring42 (668)Diligence, acquisition and integration expense(833)(789)Restructuring charges(109)(2,939)Other(1,376)— Total unallocated(23,562)(25,374)Consolidated operating income (loss)$17