{
  "docId": "019dd923-622b-71dc-a6d9-aa56741b6a55",
  "docSlug": "fade76df1897",
  "documentTitle": "DSP Group, Inc. (DSPG)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-05-13 00:00:00",
  "orientation": "portrait",
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  "pageNumber": 16,
  "pageCount": 50,
  "prevPage": 15,
  "nextPage": 17,
  "slideType": "expose_contradiction",
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  "density": "dense",
  "nDataPoints": 20,
  "notes": "Uses red boxes to highlight the unrealistic market share growth and the resulting negative fully allocated operating income.",
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  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Even if we assume that DSP can achieve its lofty and seemingly unrealistic expectations, we believe the Company still would be losing money in its VOIP business on a fully allocated basis.",
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      "kind": "list",
      "text": "DSP has projected an increase in market share from approximately 9% today to 25% by 2014. Even if we assume that DSP can achieve its lofty and seemingly unrealistic expectations, we believe the Company still would be losing money in its VOIP business on a fully allocated basis.",
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    {
      "bbox": null,
      "kind": "metric",
      "text": "Fully allocated Segment Operating Income: (0.9)",
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      "kind": "source-note",
      "text": "Source: Enterprise VOIP revenue sourced from DSP’s 2012 Form 10-K... (1) Total units ship... (2) Estimated VOIP revenue... (3) Estimated operating expenses... (4) Estimated allocated overhead...",
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      "kind": "table",
      "text": "DSP Illustrative Enterprise VOIP P&L",
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      "kind": "title",
      "text": "We Question Whether DSP’s VOIP Business will Achieve Profitability",
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      "evidence": "Exposing unrealistic projections to undermine management credibility.",
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      "evidence": "Slides 6-36 expose contradictions and critique DSP Group's management and board.",
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      "name": "Cost Of Inaction",
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      "evidence": "The deck repeatedly highlights the consequences of not changing the board and management.",
      "position": 0,
      "objective": "The cost of inaction is further underperformance and value destruction.",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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      "description": "Quantify what happens if the audience does nothing"
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