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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, DC 20549
 FORM 10-Q
 
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended June 30, 2008
 Commission file number 0-19433
 
 Technology Solutions Company
  Incorporated in the State of Delaware  IRS Employer Identification No. 36-3584201
 55 East Monroe Street, Suite 2600
Chicago, Illinois 60603
 Registrants telephone number, including area code (312) 228-4500
 Indicate by check mark whether the registrant (1) has filed all reports required to be filed
by Section 13 or
15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such
shorter period
that the registrant was required to file such reports), and (2) has been subject to such
filing requirements
for the past 90 days. þ Yes o No
 Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See definition of accelerated filer, large
accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act (Check one):
 Large accelerated filero
    
    Accelerated filero
    
    Non-accelerated filer þ
    
    Smaller Reporting Companyo
 Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of
the Exchange Act)  o Yes þ No
 As of August 14, 2008 there were outstanding 2,565,866 shares of TSC Common Stock, par value
$0.01.




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##### 



TECHNOLOGY SOLUTIONS COMPANY  Index to Form 10-Q
 PageNumberPart IITEM 1. FINANCIAL STATEMENTSConsolidated Balance Sheets as of

June 30, 2008 and December 31, 2007
    
    
    3Consolidated Statements of Operations for the

Three and Six Months Ended June 30, 2008 and 2007
    
    
    4Consolidated Statements of Cash Flows for the

Six Months Ended June 30, 2008 and 2007
    
    
    5Notes to Consolidated Financial Statements
    
    
    6ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
    
    
    13ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
MARKET RISK
    
    
    25ITEM 4. CONTROLS AND PROCEDURES
    
    
    25ITEM 4T. CONTROLS AND PROCEDURES
    
    
    25Part IIITEM 1. LEGAL PROCEEDINGS
    
    
    26ITEM 1A. RISK FACTORS
    
    
    26ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
    
    
    26ITEM 3. DEFAULT UPON SENIOR SECURITIES
    
    
    27ITEM 4. SUBMISSION OF MATTERS TO A VOTE
OF SECURITY HOLDERS
    
    
    27ITEM 5. OTHER INFORMATION
    
    
    27ITEM 6. EXHIBITS
    
    
    27SIGNATURE
    
    
    28Exhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2
   Page 2




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PART I. FINANCIAL INFORMATION
 
 ITEM 1. FINANCIAL STATEMENTS.
 TECHNOLOGY SOLUTIONS COMPANY
 
 CONSOLIDATED BALANCE SHEETS
  June 30,
    
    
    December 31,2008
    
    
    2007(unaudited)ASSETSCURRENT ASSETS:Cash and cash equivalents
    
    $
    4,047
    
    
    $
    1,799Short-term investments
    
    
    7,415
    
    
    
    9,169Receivables, less allowance for doubtful receivables
of $10
    
    
    1,224
    
    
    
    3,513Note receivable
    
    
    750
    
    
    
    Software development costs
    
    
    92
    
    
    
    Other current assets
    
    
    370
    
    
    
    242Total current assets
    
    
    13,898
    
    
    
    14,723COMPUTERS, FURNITURE AND EQUIPMENT, NET
    
    
    208
    
    
    
    193INTANGIBLE ASSETS, NET
    
    
    313
    
    
    
    518Total assets
    
    $
    14,419
    
    
    $
    15,434LIABILITIES AND STOCKHOLDERS EQUITYCURRENT LIABILITIES:Accounts payable
    
    $
    1,560
    
    
    $
    1,539Accrued compensation and related costs
    
    
    1,077
    
    
    
    2,645Other current liabilities
    
    
    293
    
    
    
    1,078Total current liabilities
    
    
    2,930
    
    
    
    5,262STOCKHOLDERS EQUITY:Preferred stock, $.01 par value; shares authorized 
10,000,000; none issued
    
    
    
    
    
    
    Common stock, $.01 par value; shares authorized 
20,000,000; shares issued  2,677,452;
2,565,866 and 2,559,247 shares outstanding, respectively
    
    
    27
    
    
    
    27Capital in excess of par value
    
    
    129,070
    
    
    
    129,100Accumulated deficit
    
    
    (114,178
    )
    
    
    (115,816
    )Treasury stock, at cost, 111,586 and 118,205 shares, respectively
    
    
    (3,162
    )
    
    
    (3,349
    )Accumulated other comprehensive income:Unrealized (loss) on short-term investments
    
    
    (268
    )
    
    
    Cumulative translation adjustment
    
    
    
    
    
    
    210Total stockholders equity
    
    
    11,489
    
    
    
    10,172Total liabilities and stockholders equity
    
    $
    14,419
    
    
    $
    15,434
   Page 3




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TECHNOLOGY SOLUTIONS COMPANY
 
 CONSOLIDATED STATEMENTS OF OPERATIONS
  For the Three
    
    
    For the SixMonths Ended
    
    
    Months EndedJune 30,
    
    
    June 30,2008
    
    
    2007
    
    
    2008
    
    
    2007(unaudited)
    
    
    (unaudited)
    
    
    (unaudited)
    
    
    (unaudited)CONTINUING OPERATIONSREVENUES:Revenues before reimbursements
    
    $
    2,014
    
    
    $
    2,875
    
    
    $
    4,249
    
    
    $
    5,707Reimbursements
    
    
    260
    
    
    
    345
    
    
    
    607
    
    
    
    743Total Revenues
    
    
    2,274
    
    
    
    3,220
    
    
    
    4,856
    
    
    
    6,450COSTS AND EXPENSES:Project personnel
    
    
    1,489
    
    
    
    1,815
    
    
    
    2,829
    
    
    
    4,191Other project expenses
    
    
    401
    
    
    
    529
    
    
    
    570
    
    
    
    1,118Reimbursable expenses
    
    
    260
    
    
    
    345
    
    
    
    607
    
    
    
    743Cost of Services
    
    
    2,150
    
    
    
    2,689
    
    
    
    4,006
    
    
    
    6,052Management and administrative support
    
    
    442
    
    
    
    3,294
    
    
    
    1,201
    
    
    
    6,098Intangible asset amortization
    
    
    49
    
    
    
    49
    
    
    
    98
    
    
    
    107Intangible asset impairment
    
    
    
    
    
    
    
    
    
    
    106
    
    
    
    143Total Costs and Expenses
    
    
    2,641
    
    
    
    6,032
    
    
    
    5,411
    
    
    
    12,400OPERATING LOSS FROM CONTINUING OPERATIONS
    
    
    (367
    )
    
    
    (2,812
    )
    
    
    (555
    )
    
    
    (5,950
    )OTHER INCOME:Net investment income
    
    
    88
    
    
    
    120
    
    
    
    223
    
    
    
    320LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND DISCONTINUED
OPERATIONS
    
    
    (279
    )
    
    
    (2,692
    )
    
    
    (332
    )
    
    
    (5,630
    )INCOME TAX PROVISION
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    NET LOSS FROM CONTINUING OPERATIONS
    
    
    (279
    )
    
    
    (2,692
    )
    
    
    (332
    )
    
    
    (5,630
    )DISCONTINUED OPERATIONSNet income (loss) from discontinued operations,
includes gain on sale of SAP Practice
    
    
    1,786
    
    
    
    2
    
    
    
    1,971
    
    
    
    (99
    )NET INCOME (LOSS)
    
    $
    1,507
    
    
    $
    (2,690
    )
    
    $
    1,639
    
    
    $
    (5,729
    )BASIC INCOME (LOSS) PER SHARE:Income (loss) from Continuing Operations
    
    $
    (0.11
    )
    
    $
    (1.06
    )
    
    $
    (0.13
    )
    
    $
    (2.23
    )Income (loss) from Discontinued Operations
    
    $
    0.70
    
    
    $
    (0.00
    )
    
    $
    0.77
    
    
    $
    (0.04
    )Net income (loss)
    
    $
    0.59
    
    
    $
    (1.06
    )
    
    $
    0.64
    
    
    $
    (2.27
    )WEIGHTED AVERAGE SHARES  BASIC
    
    
    2,566
    
    
    
    2,542
    
    
    
    2,564
    
    
    
    2,528DILUTED INCOME (LOSS) PER SHARE (1):Income (loss) from Continuing Operations
    
    $
    (0.11
    )
    
    $
    (1.06
    )
    
    $
    (0.13
    )
    
    $
    (2.23
    )Income (loss) from Discontinued Operations
    
    $
    0.68
    
    
    $
    (0.00
    )
    
    $
    0.75
    
    
    $
    (0.04
    )Net income (loss)
    
    $
    0.58
    
    
    $
    (1.06
    )
    
    $
    0.62
    
    
    $
    (2.27
    )WEIGHTED AVERAGE SHARES  DILUTED
    
    
    2,608
    
    
    
    2,542
    
    
    
    2,629
    
    
    
    2,528
 (1)
    
    Dilutive securities are excluded from the diluted earnings per share calculation in loss
periods due to their anti-dilutive effect   Page 4




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TECHNOLOGY SOLUTIONS COMPANY
 
 CONSOLIDATED STATEMENTS OF CASH FLOWS
  For theSix Months EndedJune 30,2008
    
    
    2007(unaudited)CASH FLOWS FROM OPERATING ACTIVITIES:Net income (loss)
    
    $
    1,639
    
    
    $
    (5,729
    )Adjustments to reconcile net income/(loss) to net
cash from operating activities:Intangible asset impairment
    
    
    106
    
    
    
    143Depreciation and amortization
    
    
    148
    
    
    
    129Cumulative translation adjustment
    
    
    (210
    )
    
    
    Non-cash stock compensation
    
    
    169
    
    
    
    390Gain from sale of SAP Practice
    
    
    (1,526
    )Changes in assets and liabilities:Receivables
    
    
    (303
    )
    
    
    2,514Loan receivable
    
    
    
    
    
    
    3,400Other current assets
    
    
    (289
    )
    
    
    107Accounts payable
    
    
    344
    
    
    
    (920
    )Accrued compensation and related costs
    
    
    (1,009
    )
    
    
    (192
    )Restructuring accruals
    
    
    
    
    
    
    (222
    )Other current liabilities
    
    
    (785
    )
    
    
    (615
    )Net cash used in operating activities
    
    
    (1,716
    )
    
    
    (995
    )CASH FLOWS FROM INVESTING ACTIVITIES:Proceeds from sale of SAP Practice, net of transactions fees
    
    $
    3,305
    
    
    
    Proceeds from short-term investments
    
    
    1,581
    
    
    
    Note receivable from sale of SAP Practice
    
    
    (750
    )
    
    
    Purchases of short-term investments
    
    
    (95
    )
    
    
    (147
    )Capital expenditures
    
    
    (64
    )
    
    
    (88
    )Net cash provided by (used in) investing activities
    
    
    3,977
    
    
    
    (235
    )CASH FLOWS FROM FINANCING ACTIVITIES:Payment of employee payroll taxes in lieu of shares for vested
restricted stock units
    
    
    (13
    )
    
    
    (115
    )Net cash used in financing activities
    
    
    (13
    )
    
    
    (115
    )INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
    
    
    2,248
    
    
    
    (1,345
    )CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
    
    
    1,799
    
    
    
    6,924CASH AND CASH EQUIVALENTS, END OF PERIOD
    
    $
    4,047
    
    
    $
    5,579
   Page 5




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TECHNOLOGY SOLUTIONS COMPANY
 
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Unaudited)
  NOTE 1  BASIS OF PRESENTATION
  NOTE 2  THE COMPANY
  NOTE 3  NEW ACCOUNTING STANDARDS
    Page 6




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Business Combinations
 NOTE 4  SHORT TERM INVESTMENTS AND PRIOR YEARS REVISIONS
     Page 7




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As Originally Filed
    
    
    
    
    
    
    As RevisedJune 30, 2007
    
    
    Revision
    
    
    June 30, 2007Net Loss
    
    $
    (5,729
    )
    
    $
    
    
    
    $
    (5,729
    )Net Cash used in operating activities
    
    
    (995
    )
    
    
    
    
    
    
    (995
    )CASH FLOWS FROM INVESTING ACTIVITIESPurchases of short-term investments
    
    
    
    
    
    
    (147
    )
    
    
    (147
    )Capital expenditures
    
    
    (88
    )
    
    
    
    
    
    
    (88
    )Net Cash used in investing activities
    
    
    (88
    )
    
    
    (147
    )
    
    
    (235
    )Net Cash used in financing activities
    
    
    (115
    )
    
    
    
    
    
    
    (115
    )EFFECT OF EXCHANGE RATE CHANGES ON CASH
    
    
    
    
    
    
    
    
    
    
    DECREASE IN CASH AND CASH EQUIVALENTS
    
    
    (1,198
    )
    
    
    (147
    )
    
    
    (1,345
    )CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
    
    
    13,510
    
    
    
    (6,586
    )
    
    
    6,924CASH AND CASH EQUIVALENTS, END OF PERIOD
    
    $
    12,312
    
    
    $
    (6,733
    )
    
    $
    5,579
  Page 8




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NOTE
5  SOFTWARE DEVELOPMENT COSTS
  NOTE
6  INCOME TAXES
    NOTE 7  STOCK-BASED COMPENSATION
  NOTE 8  CAPITAL STOCK
   Page 9




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NOTE 9  INCOME (LOSS) PER COMMON SHARE
   June 30, 2008
    
    
    June 30, 2007Shares
    
    
    Per
    
    
    
    
    
    
    Shares
    
    
    PerNet
    
    
    (In
    
    
    Common
    
    
    Net
    
    
    (In
    
    
    CommonIncome
    
    
    Thousands)
    
    
    Share
    
    
    Loss
    
    
    Thousands)
    
    
    ShareBasic income/(loss)
per share
    
    $
    1,507
    
    
    
    2,566
    
    
    $
    0.59
    
    
    $
    (2,690
    )
    
    
    2,542
    
    
    $
    (1.06
    )Effect of common
equivalent shares
    
    
    
    
    
    
    42
    
    
    
    (0.01
    )
    
    
    
    
    
    
    
    
    
    
    Diluted
income/(loss) per
share
    
    $
    1,507
    
    
    
    2,608
    
    
    $
    0.58
    
    
    $
    (2,690
    )
    
    
    2,542
    
    
    $
    (1.06
    )
  June 30, 2008
    
    
    June 30, 2007Shares
    
    
    Per
    
    
    
    
    
    
    Shares
    
    
    PerNet
    
    
    (In
    
    
    Common
    
    
    Net
    
    
    (In
    
    
    CommonIncome
    
    
    Thousands)
    
    
    Share
    
    
    Loss
    
    
    Thousands)
    
    
    ShareBasic income/(loss)
per share
    
    $
    1,639
    
    
    
    2,564
    
    
    $
    0.64
    
    
    $
    (5,729
    )
    
    
    2,528
    
    
    $
    (2.27
    )Effect of common
equivalent shares
    
    
    
    
    
    
    65
    
    
    
    (0.02
    )
    
    
    
    
    
    
    
    
    
    
    Diluted
income/(loss) per
share
    
    $
    1,639
    
    
    
    2,629
    
    
    $
    0.62
    
    
    $
    (5,729
    )
    
    
    2,528
    
    
    $
    (2.27
    )
  Page 10




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NOTE 10  INTANGIBLE ASSETS, NET
  Non-Customer
    
    
    compete
    
    
    Other
    
    
    Trade-Related
    
    
    Agreements
    
    
    Agreements
    
    
    marks
    
    
    TotalBalance as of Dec. 31, 2007
    
    $
    155
    
    
    $
    46
    
    
    $
    48
    
    
    $
    269
    
    
    $
    518Amortization
    
    
    (63
    )
    
    
    (29
    )
    
    
    (7
    )
    
    
    
    
    
    
    (99
    )Impairment loss
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (106
    )
    
    
    (106
    )Balance as of Jun. 30, 2008
    
    $
    92
    
    
    $
    17
    
    
    $
    41
    
    
    $
    163
    
    
    $
    313
   NOTE 11  CUMULATIVE TRANSLATION ADJUSTMENT
  NOTE 12  SALE OF SAP PRACTICE
    Page 11




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As of 4/30/08
    
    
    As of 12/31/07Accounts receivable
    
    $
    2,592
    
    
    $
    2,352Other current assets
    
    
    69
    
    
    
    31Total assets
    
    $
    2,661
    
    
    $
    2,383Accounts payable
    
    
    323
    
    
    
    344Accrued compensation
    
    
    559
    
    
    
    343Total liabilities
    
    $
    882
    
    
    $
    687Value of net assets sold
    
    $
    1,779
    
    
    $
    1,696
  Page 12




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TECHNOLOGY SOLUTIONS COMPANY
 
 ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 RESULTS OF OPERATIONS
 OVERVIEW
       Page 13




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 REVENUES
  COSTS AND EXPENSES
 Project Personnel
  Other Project Expenses
  Reimbursable Expenses
  Management and Administrative Support
  Intangible asset amortization
   Page 14




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 CRITICAL ACCOUNTING POLICIES AND ESTIMATES
   Revenue Recognition
  Accounting for Income Taxes
   Page 15




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
  Stock-Based Compensation
  Intangible Assets
    Page 16




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
   THREE MONTHS ENDED JUNE 30, 2008 COMPARED WITH THREE MONTHS ENDED JUNE 30, 2007
 Revenues
    Page 17




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 Costs and Expenses
      Operating Loss from Continuing Operations
  Other Income
   Page 18




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 Income Tax Provision
  Discontinued Operations
  Net Income
  Shares Outstanding
  SIX MONTHS ENDED JUNE 30, 2008 COMPARED WITH SIX MONTHS ENDED JUNE 30, 2007
 Revenues
    Page 19




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 Costs and Expenses
      Operating Loss from Continuing Operations
  Other Income
   Page
20




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 Income Tax Provision
  Discontinued Operations
  Net Income
  Shares Outstanding
  LIQUIDITY AND CAPITAL RESOURCES
    Page 21




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
       Page 22




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 NEW ACCOUNTING STANDARDS
    Business Combinations
  Page 23




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TECHNOLOGY SOLUTIONS COMPANY
 MANAGEMENTS DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
 ASSUMPTIONS UNDERLYING CERTAIN FORWARD-LOOKING STATEMENTS AND FACTORS THAT MAY AFFECT FUTURE
RESULTS
 This Form 10-Q contains certain forward-looking statements concerning our financial position,
results of operations, cash flows, business strategy, budgets, projected costs and plans and
objectives of management for future operations as well as other statements including words such as
anticipate, believe, plan, estimate, expect, intend, and other similar expressions.
These forward-looking statements involve significant risks and uncertainties. Although we believe
that the expectations reflected in such forward-looking statements are based on reasonable
assumptions, readers are cautioned that no assurance can be given that such expectations will prove
correct and that actual results and developments may differ materially from those conveyed in such
forward-looking statements. We claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act of 1995 for all
forward-looking statements. Important factors that could cause actual results to differ materially
from the expectations reflected in the forward-looking statements in this Form 10-Q include, among
others, our ability to manage decreased revenue levels; our need to attract new business and
increase revenues; our recent general trend of a declining cash position; our ability to manage
costs and headcount relative to expected revenues; our ability to achieve proper utilization rates
or charge acceptable rates for our services could adversely affect our ability to successfully
introduce new service offerings; our dependence on a limited number of clients for a large portion
of our revenue; the potential loss of significant clients; our ability to attract new clients and
sell additional work to existing clients; our ability to attract and retain employees; the rapidly
changing nature of information technology services, including our ability to keep pace with
technological and market changes and our ability to refine and add to existing service offerings;
the lack of shareholder approved stock options available for grants by the Company to retain
existing employees;; and changing business, economic or market conditions and changes in
competitive and other factors, all as more fully described herein and in our Annual Report on Form
10-K for the year ended December 31, 2007 under Risk Factors and elsewhere from time to time in our
filings with the SEC, press releases and other communications. Such forward-looking statements
speak only as of the date on which they are made and we do not undertake any obligation to update
any forward-looking statement to reflect events or circumstances after the date of this Form 10-Q .
If we do update or correct one or more forward-looking statements, investors and others should not
conclude that we will make additional updates or corrections with respect thereto or with respect
to other forward-looking statements. Our actual results may vary materially.
  Page 24




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##### Table of Contents



TECHNOLOGY SOLUTIONS COMPANY
 PART I. FINANCIAL INFORMATION
(Continued)
 
 ITEM 3QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
  
 ITEM 4CONTROLS AND PROCEDURES.
  
 ITEM 4TCONTROLS AND PROCEDURES.
   Page 25




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##### Table of Contents



TECHNOLOGY SOLUTIONS COMPANY
 
 PART II. OTHER INFORMATION
 
 ITEM 1LEGAL PROCEEDINGS.
   
 ITEM 1ARISK FACTORS.
  
 ITEM 2UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
 (c) STOCK REPURCHASES
 (c) Total number
    
    
    (d) Maximum number ofof shares
    
    
    shares (or approximate(a) Total
    
    
    
    
    
    
    purchased as part
    
    
    dollar value of shares)number
    
    
    (b) Average
    
    
    of publicly
    
    
    that may yet beof shares
    
    
    price paid per
    
    
    announced plans
    
    
    purchased under thePeriod
    
    purchased
    
    
    share
    
    
    or programs
    
    

plans or programsApril 1, 2008  April 30, 2008
    
    
    0
    
    
    $
    
    
    
    
    0
    
    
    
    234,360May 1,
2008  May 31, 2008
    
    
    0
    
    
    $
    
    
    
    
    0
    
    
    
    234,360June 1,
2008  June 30, 2008
    
    
    0
    
    
    $
    
    
    
    
    0
    
    
    
    234,360Total
    
    
    0
    
    
    $
    
    
    
    
    0
    
    
    
    234,360
  Page 26




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##### Table of Contents



TECHNOLOGY SOLUTIONS COMPANY
 PART II. OTHER INFORMATION  (Continued)
  
 ITEM 3DEFAULT UPON SENIOR SECURITIES.
  
 ITEM 4SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
  
 ITEM 5OTHER INFORMATION.
  
 ITEM 6EXHIBITS.
 Exhibit #
    
    Description of Document31.1*
    
    
    Certification of Chief Executive Officer pursuant to Section 302
of the Sarbanes-Oxley Act of 200231.2*
    
    
    Certification of Chief Financial Officer pursuant to Section 302
of the Sarbanes-Oxley Act of 200232.1*
    
    
    Certification of Chief Executive Officer pursuant to Section 906
of the Sarbanes-Oxley Act of 200232.2*
    
    
    Certification of Chief Financial Officer pursuant to Section 906
of the Sarbanes-Oxley Act of 2002
 
 *
    
    Filed herewith  Page 27




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##### Table of Contents



SIGNATURE
  TECHNOLOGY SOLUTIONS COMPANYDate: August 14, 2008
    By:
    /s/ TIMOTHY G. ROGERSTimothy G. RogersChief Financial Officer

(Duly Authorized Officer and

Principal Financial Officer)  Page 28




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##### Table of Contents



EXHIBIT INDEX
 Exhibit #
    
    Description of Document31.1*
    
    
    Certification of Chief Executive Officer pursuant to Section 302
of the Sarbanes-Oxley Act of 200231.2*
    
    
    Certification of Chief Financial Officer pursuant to Section 302
of the Sarbanes-Oxley Act of 200232.1*
    
    
    Certification of Chief Executive Officer pursuant to Section 906
of the Sarbanes-Oxley Act of 200232.2*
    
    
    Certification of Chief Financial Officer pursuant to Section 906
of the Sarbanes-Oxley Act of 2002
 
 *
    
    Filed herewith  Page 29