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Strategies & Market Trends : Bluegreen Corporation (BXG)

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From: JakeStraw	5/11/2009 9:25:37 AM
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Bluegreen Corporation Reports 2009 First Quarter Financial Results finance.yahoo.com Corporate Strategic Initiatives Generate Profitable Operations and Improved Resorts Expense Profile Q1 2009 Overview * Net income of $3.6 million, or $0.11 per share, compared to net income of $1.4 million, or $0.04 per share, in Q1 2008 * Profitability driven by Resorts expense reductions and other efficiencies * Resorts sales of $43.5 million as compared to $90.3 million * Reflects success of previously announced deliberate reduction of Bluegreen-financed Resort sales in light of the challenging commercial credit market * Bluegreen Communities sales decline to $2.3 million * Total cash and equivalents of $81.4 million at March 31, 2009 * Book value of $12.44 per share

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