Penguin Solutions, Inc. (NASDAQ:PENG) shares are declining premarket on Wednesday after the company reported mixed fourth-quarter results on Tuesday.
Earnings: The company reported net sales growth of 9% year-over-year to $338 million, up 9% year over year (Y/Y), missing the consensus of $342.1 million.
Adjusted gross margin came in at 30.9%, stable Y/Y, in the quarter.
Adjusted operating income rose 16% Y/Y to $39.17 million in the quarter. Adjusted EPS of $0.43