Company: PENG
Filing Date: 2025-04-02
Form Type: 10-Q
Source: 0001628280-25-016182
Chunk: 64

Company: Penguin Solutions, Inc.
Filing Date: 2025-04-02
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 develop and market LED-based products for general lighting, video displays and specialty lighting applications.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 EndedSix Months EndedFebruary 28,2025March 1,2024February 28,2025March 1,2024Net sales:Advanced Computing$200,157 $141,405 $377,583 $260,229 Integrated Memory105,260 83,297 201,966 168,965 Optimized LED60,102 60,119 127,072 129,874 Total net sales$365,519 $284,821 $706,621 $559,068 Segment operating income:Advanced Computing$36,933 $22,291 $67,050 $40,192 Integrated Memory10,970 6,016 18,086 13,211 Optimized LED1,187 (1,793)4,872 (210)Total segment operating income49,090 26,514 90,008 53,193 Unallocated:Share-based compensation expense(11,580)(10,639)(23,111)(21,609)Amortization of acquisition-related intangibles(8,839)(9,751)(18,594)(19,759)Cost of sales-related restructuring(77)(216)(35)(884)Diligence, acquisition and integration expense(567)(5,885)(1,400)(6,674)Redomiciliation costs(2,359)— (3,602)— Impairment of goodwill(6,079)— (6,079)— Restructuring charges(859)(3,335)(968)(6,274)Other(242)— (375)— Total unallocated(30,602)(29,826)(54,164)(55,200)Consolidated operating income (loss)$18,488 $(3,312)$35,844