Purchase Of Shares Under Stock Repurchase Program

9 Months Ended

Sep. 30, 2011

Purchase Of Shares Under Stock Repurchase Program [Abstract]

Purchase Of Shares Under Stock Repurchase Program

NOTE I – PURCHASE OF SHARES UNDER STOCK REPURCHASE PROGRAM

On March 3, 2011, we announced that TPCGI's Board of Directors approved a stock repurchase program for up to $30.0 million of TPCGI's common stock. Purchases of common stock under the program have been and will be executed periodically in the open market or in privately negotiated transactions in accordance with applicable securities laws. The stock repurchase program does not obligate TPCGI to repurchase any dollar amount or number of shares of common stock, does not have an expiration date and may be limited or terminated at any time by TPCGI's Board of Directors without prior notice. During the first quarter of 2011, TPCGI purchased 282,532 shares under the program in the open market at an average of $27.59 per share, for a total of $7.8 million. No shares were purchased during the second quarter of 2011. During the third quarter of 2011, TPCGI purchased 352,259 shares under the program in the open market at an average of $23.53 per share, for a total of $8.3 million. Total shares purchased to date under the $30 million program are 634,791 shares at an average of $25.33 per share, for a total of $16.1 million. As of September 30, 2011, the remaining amount available for stock repurchases under the program was $13.9 million. Subsequent to the third quarter through the filing date of this Form 10-Q there have been no additional shares purchased. The shares purchased were immediately retired and any additional shares to be purchased under the program will be retired immediately. Any future purchases will depend on many factors, including the market price of the shares, our business and financial position and general economic and market conditions.