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  "docSlug": "1c836eeb374c",
  "documentTitle": "Monolithic Power Systems (MPWR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2019-10-09 00:00:00",
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  "notes": "The slide uses a red box to highlight the DIO row, emphasizing the 'bloated' figures.",
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      "kind": "callout",
      "text": "Sipex results were restated through 2003. It’s clear that leading up to the restatement, Days Inventory Outstanding (DIO) were bloated in the 130 – 145 range, much like MPWR’s DIOs are bloated above normal today.",
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      "text": "Days Inventory Outstanding: 145.5",
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      "text": "Sipex results were restated through 2003. It's clear that leading up to the restatement, Days Inventory Outstanding (DIO) were bloated in the 130 – 145 range, much like MPWR's DIOs are bloated above normal today.",
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      "text": "Source: Sipex financials",
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      "text": "Sipex's Inventory Turnover and Days Inventory Outstanding Bloated Prior To The Scandal",
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      "text": "Case Study: Sipex Days Inventory Outstanding Bloated Just Like MPWR's Prior To Investigation",
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