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  "documentTitle": "DSP Group, Inc. (DSPG)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2013-05-13 00:00:00",
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  "pageNumber": 39,
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  "notes": "The table highlights the discrepancy between revenue and operating profit/EBITDA, suggesting mismanagement of R&D and SG&A expenses.",
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      "text": "Over the last five years, despite having a significantly profitable core Digital Telephony business, DSP appears to have managed itself to a slight operating loss (and slight EBITDA gain) almost every year, regardless of the Company's revenue, by making substantial investments in R&D and SG&A that have shown little if any progress.",
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      "text": "EBITDA Margin: 1.0%",
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      "text": "Over the last five years, despite having a significantly profitable core Digital Telephony business, DSP appears to have managed itself to a slight operating loss (and slight EBITDA gain) almost every year, regardless of the Company's revenue, by making substantial investments in R&D and SG&A that have shown little if any progress.",
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      "kind": "source-note",
      "text": "Source: DSP financials are sourced from company filings. Operating profit excludes amortization of Goodwill and Intangibles. Note: Digital Telephony revenue is not a defined term by DSP Group. Digital Telephony revenue is a Starboard estimate for legacy product revenue that excludes DSP's New Product Revenue.",
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      "text": "DSP Historical Operating Performance table showing Revenue, Operating Profit/Loss, EBITDA, and EBITDA Margin from 2007-2012.",
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      "text": "Focus on improving the operating performance of the Company:",
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      "text": "Our Independent Nominees Have a Better Plan to Create Value",
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