TSCM » Topics » Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

This excerpt taken from the TSCM 10-K filed Mar 16, 2006.

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer
            Purchases of Equity Securities.

      Our Common Stock has been quoted on the Nasdaq National Market under the symbol TSCM since our initial public offering on May 11, 1999. The following table sets forth, for the periods indicated, the high and low closing sales prices per share of the Common Stock as reported on the Nasdaq National Market.

      Low

  High

       
      

2004

                       
      

First quarter

     $ 4.04        $ 5.07          
      

Second quarter

     $ 3.24        $ 4.55          
      

Third quarter

     $ 3.02        $ 3.77          
      

Fourth quarter

     $ 3.24        $ 4.40          
      

2005

                       
      

First quarter

     $ 4.05        $ 4.69          
      

Second quarter

     $ 2.85        $ 4.33          
      

Third quarter

     $ 3.45        $ 4.38          
      

Fourth quarter

     $ 3.96        $ 7.90          
      

                       

      On March 13, 2006, the last reported sale price for our Common Stock was $7.70 per share.

Holders

      The number of holders of record of our Common Stock on March 13, 2006 was 315, which does not include beneficial owners of our Common Stock whose shares are held in the names of various dealers, clearing agencies, banks, brokers and other fiduciaries.

Dividends

      There were no dividends or other distributions made by us during the fiscal years ended December 31, 2005, 2004 or 2003. On February 21, 2006, the Company announced that its Board of Directors declared a first quarter cash dividend in the amount of $0.025 per share of its common stock, payable on March 31, 2006 to all stockholders of record at the close of business on March 10, 2006. The Company intends, although there can be no assurance, to pay regular quarterly cash dividends in the future.

Issuer Purchases of Equity Securities

      The following table presents information related to repurchases of its Common Stock made by the Company during the three months ended December 31, 2005.

Period

  (a)
Total
Number
of Shares
(or Units)
Purchased

  (b)
Average
Price
Paid per
Share (or
Unit)

  (c)
Total Number of
Shares (or Units)
Purchased as
Part of Publicly
Announced Plans
or Programs

  (d)
Maximum Number
(or Approximate
Dollar Value) of
Shares (or Units) that
May Yet Be
Purchased Under the
Plans or Programs*

October 1–31, 2005

              $                 $ 2,678,878  

November 1–30, 2005

              $                 $ 2,678,878  

December 1–31, 2005

              $                 $ 2,678,878  

      
                
         

Total

              $                 $ 2,678,878  

      
                
         

                               


*    In December 2000, the Company’s Board of Directors authorized the repurchase of up to $10 million worth of the Company’s Common Stock, from time to time, in private purchases or in the open market. In February 2004, the Company’s Board approved the resumption of this program under new price and volume parameters, leaving unchanged the maximum amount available for repurchase under the program. The program does not have a specified expiration date.

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