By Kelly Cloonan
Penguin Solutions reported higher revenue and swung to a profit in its fiscal second quarter as its advanced computing sales continue to post double-digit growth.
The company, which provides solutions for the computing, memory and LED markets, posted a profit of $8.1 million, or 9 cents a share, for the quarter ended Feb. 28, compared with a loss of $13.6 million, or 26 cents a share, a year earlier.
Adjusted earnings per share were 52 cents, beating the 38 cents a share that analysts polled by FactSet expected.
Revenue rose 28% to $365.5 million compared with $284.8 million a year ago. Analysts were looking for $345 million.
Advanced computing sales rose 42% to $200.2 million from $141.4 million a year ago.
For fiscal 2025, the Milpitas, Calif.-based company raised the midpoint of its forecast for year-over-year revenue growth 17%, plus or minus 3%, from 15%, plus or minus 5%. Analysts polled by FactSet expected revenue of $1.39 billion, or a 16% rise in sales from $1.17 billion in fiscal 2025.
The company also raised its adjusted per-share earnings outlook to $1.60, plus or minus 10 cents, from $1.50, plus or minus 20 cents, compared with analysts' forecast of $1.58.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 02, 2025 16:34 ET (20:34 GMT)
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