(Updates with the latest stock price movement in the headline and first paragraph, and details about CFO appointment in the last paragraph.)

Penguin Solutions (PENG) shares rose more than 4% in after-hours trading after the company reported fiscal Q4 adjusted earnings late Tuesday of $1.00 per diluted share, up from $0.43 a year earlier.

Analysts polled by FactSet expected $0.77.

Revenue for the three months ended Aug. 28 was $566.7 million, up from $337.9 million a year earlier.

Analysts expected $521 million.

For fiscal 2027, the company now expects adjusted EPS of $4.45 plus or minus $0.70 on revenue of $2.43 billion at the midpoint.

Analysts expect adjusted EPS of $3.39 on revenue of $2.21 billion.

Also, Penguin Solutions said late Tuesday it has appointed Stephen Cumming as its senior vice president and chief financial officer, starting immediately. He most recently served as the CFO of Edgio, the company said.