Here is analytics data from a large brand client who was hit strongly with the initial rollout of Penguin and also had a partial manual action. After extensive work auditing and removing/disavowing links, the site escaped the Penguin algorithm on October 4, 2013 and then had its manual action removed shortly after:

This company saw an even greater increase with the next refresh of Penguin:

Here is another case of a small business that had us do a cleanup which was primarily disavow work.  This work was done just prior to the October 2013 Penguin refresh which meant that they had to wait a whole year to see recovery because Google did not refresh Penguin until October of 2014. They are now ranking #1 for most of their terms:

Click here for more information on our Google Penguin Recovery Services.