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Bluegreen Corporation Reports 2011 Third Quarter Financial Results

Monday, November 14th, 2011

* Bluegreen Resorts (“Resorts”) system-wide sales of VOIs, including sales made on behalf of third parties, were $91.0 million.
* Total fee-based service revenues (including sales and marketing commissions, resort management services, title and other services) rose 30% to $42.3 million for Q3 2011 from $32.6 million for Q3 2010.
* Income from continuing operations attributable to Bluegreen shareholders rose to $9.7 million, or $0.30 per diluted share, from a loss of $0.6 million, or $0.02 per diluted share, in Q3 2010.
* Q3 2010 included a significant non-cash charge associated with increased reserve for loan losses on VOI notes receivable generated prior to December 15, 2008.
* Net income in Q3 2011 was $7.1 million, or $0.22 per diluted share, which included a loss from discontinued operations of $2.6 million, or $0.08 per diluted share, compared to a net loss in Q3 2010 of $16.7 million, or $0.54 per diluted share, which included a loss from discontinued operations of $16.1 million, or $0.52 per diluted share.
* Cash flow from operating and investing activities (“Free Cash Flow”) of $116.7 million for the nine-months ended September 30, 2011.
* Unrestricted cash and cash equivalents at September 30, 2011 of $70.4 million.

BOCA RATON, FL–(CRWENEWSWIRE)– Bluegreen Corporation (NYSE: BXG), a leading timeshare sales, marketing and resort management company, today announced financial results for the three and nine months ended September 30, 2011.

John M. Maloney Jr., President and Chief Executive Officer of Bluegreen, commented, “We believe that our results from continuing operations for the third quarter of 2011 validate our strategy of utilizing our core product, the points-based Bluegreen Vacation Club, as a platform to support three potential sources of revenue: our traditional timeshare (VOI) business; a growing fee-based services business; and a finance business. During the third quarter, we increased system-wide sales, generated higher income from continuing operations than in the comparable 2010 period, and produced Free Cash Flow of $41.1 million. During Q3 2011, fee-based services contributed 81% of total Resorts operating profit. Additionally, during the nine months ended September 30, 2011 we reduced our debt by more $100 million from December 31, 2010. We believe that our business model continues to move toward our goal of growing our fee-based services business, which has low capital requirements and which generates significant Free Cash Flow.”

Additional operating highlights included:

* In connection with its fee-based services business, Resorts sold $34.0 million of third-party VOI inventory in Q3 2011, generating sales and marketing commissions of approximately $23.5 million and contributing an estimated $6.2 million to Resorts operating profit. This compares to sales of $22.1 million of third-party VOI inventory, which generated sales and marketing commissions of $15.1 million and contributed an estimated $4.7 million to Resorts operating profit in Q3 2010. In Q3 2011, Bluegreen provided sales and marketing services to 7 resorts under fee-based service arrangements, as compared to 5 such arrangements during Q3 2010;
* Total revenues from fee-based services rose 30% to $42.3 million in Q3 2011. As of September 30, 2011, Bluegreen managed 45 timeshare resort properties and hotels compared to 43 as of September 30, 2010;
* Cash received from Resorts sales - either at closing or within 30 days of closing and including down payments received on financed sales - represented 55% of Resorts sales for the first nine months of 2011;
* Debt-to-equity (recourse and non-recourse) declined to 2.32:1 at September 30, 2011 from 2.58:1 at December 31, 2010. Debt-to-equity (recourse only) declined to 1.08:1 at September 30, 2011 from 1.22:1 at December 31, 2010;
* In September 2011, Bluegreen entered into a $30.0 million revolving timeshare receivables hypothecation facility with CapitalSource Bank; and
* In October 2011, Bluegreen amended, restated, and extended by one year its existing timeshare receivables purchase facility with BB&T. The amended revolving facility allows for maximum outstanding borrowings of $50.0 million. As of September 30, 2011, $20.6 million was outstanding under this facility.

Income from continuing operations attributable to Bluegreen shareholders (defined as income from continuing operations less net income attributable to non-controlling interest) rose to $9.7 million, or $0.30 per diluted share, compared to a loss of $0.6 million, or $0.02 per diluted share in Q3 2010. Income from continuing operations for Q3 2010 included a non-cash charge of $24.5 million to increase the reserve for loan losses on VOI notes receivable generated prior to December 15, 2008 (the date Bluegreen implemented credit underwriting standards), partially offset by a related $8.7 million non-cash reduction of cost of sales.

As previously disclosed, Bluegreen’s Board of Directors made a determination during June 2011 to seek to sell Bluegreen Communities or all or substantially all of its assets. As a consequence, Bluegreen Communities is accounted for as a discontinued operation for all periods in the accompanying consolidated financial statements. On October 12, 2011, the Company entered into a Purchase and Sale Agreement (the “Agreement”) with a third-party (the “Buyer”), providing for the sale of substantially all of the assets that comprise Bluegreen Communities for a purchase price of i) $31.5 million in cash, and ii) a cash amount equal to 20% of the net proceeds (as calculated in accordance with the terms of the Agreement) the Buyer receives upon its sale, if any, of two specified parcels of real estate to be purchased by the Buyer under the Agreement. The Buyer has advised Bluegreen that they need to obtain debt and/or equity financing in order to close the transaction, but obtaining such financing is not a Buyer condition of closing. There can be no assurance that the transaction will be consummated on the contemplated terms, including the contemplated time frame, or at all. Additional information regarding this proposed transaction is available in Bluegreen’s filings with the Securities and Exchange Commission.

The loss from discontinued operations, net of income taxes, for Q3 2011 was $2.6 million, or $0.08 per diluted share, compared to a loss of $16.1 million, or $0.52 per diluted share, in Q3 2010. The loss from discontinued operations for Q3 2010 included non-cash pre-tax inventory impairment charges of $20.8 million.

As a result of the above-referenced items, net income for Q3 2011 was $7.1 million, or $0.22 per diluted share, as compared to a net loss of $16.7 million, or $0.54 per diluted share, in Q3 2010.

BLUEGREEN RESORTS
Supplemental Financial Data and Reconciliation of System-Wide Sales of VOIs to GAAP Gross Sales of VOIs Three and Nine Months Ended September 30, 2011 and September 30, 2010 (In 000’s, except percentages) (unaudited)

	Three Months Ended September 30, 2011								Three Months Ended September 30, 2010
	Traditional Timeshare Business		Fee-Based Services Business		Total		% of System- wide sales of VOIs, net ⁽⁶⁾		Traditional Timeshare Business		Fee-Based Services Business		Total		% of System- wide sales of VOIs, net⁽⁶⁾
System-wide sales of VOI’s ⁽¹⁾	$56,993		$33,983		$90,976				$67,383		$22,090		$89,473
Change in sales deferred under timeshare accounting rules	(335	)	-		(335	)			4,854		-		4,854
System-wide sales of VOIs, net ⁽¹⁾	56,658		33,983		90,641		100	%	72,237		22,090		94,327		100	%
Less: Sales of third-party VOIs	-		(33,983	)	(33,983	)	(37	)	-		(22,090	)	(22,090	)	(23	)
Gross sales of VOIs	56,658		-		56,658		63		72,237		-		72,237		77
Estimated uncollectible VOI notes receivable ⁽²⁾	(10,770	)	-		(10,770	)	(19	)	(33,448	)	-		(33,448	)	(46	)
Sales of VOIs	45,888		-		45,888		51		38,789		-		38,789		41
Cost of VOIs sold ⁽³⁾	(11,349	)	-		(11,349	)	(25	)	(13,696	)	-		(13,696	)	(35	)
Gross profit ⁽³⁾	34,539		-		34,539		75		25,093		-		25,093		65
Fee-based sales commission revenue	-		23,460		23,460		26		-		15,148		15,148		16
Other resort fee-based services revenues	-		18,838		18,838		21		-		17,476		17,476		19
Cost of other resort fee-based services	-		(10,550	)	(10,550	)	(12	)	-		(9,255	)	(9,255	)	(10	)
Net carrying cost of VOI inventory	(2,362	)	-		(2,362	)	(3	)	(2,329	)	-		(2,329	)	(2	)
Selling and marketing expense ⁽⁴⁾	(25,462	)	(15,272	)	(40,734	)	(45	)	(30,263	)	(9,255	)	(39,518	)	(42	)
Resorts G & A expense ⁽⁴⁾	(3,334	)	(2,000	)	(5,334	)	(6	)	(3,818	)	(1,167	)	(4,985	)	(5	)
Bluegreen Resorts operating profit ⁽⁵⁾	$3,381		$14,476		$17,857		20	%	($11,317	)	$12,947		$1,630		2	%


	Nine Months Ended September 30, 2011								Nine Months Ended September 30, 2010
	Traditional Timeshare Business		Fee-Based Services Business		Total		% of System- wide sales of VOIs, net ⁽⁶⁾		Traditional Timeshare Business		Fee-Based Services Business		Total		% of System- wide sales of VOIs, net ⁽⁶⁾
System-wide sales of VOI’s ⁽¹⁾	$150,755		$77,844		$228,599				$168,185		$56,045		$224,230
Change in sales deferred under timeshare accounting rules	(1,639	)	-		(1,639	)			(1,660	)	-		(1,660	)
System-wide sales of VOIs, net ⁽¹⁾	149,116		77,844		226,960		100	%	166,525		56,045		222,570		100	%
Less: Sales of third-party VOIs	-		(77,844	)	(77,844	)	(34	)	-		(56,045	)	(56,045	)	(25	)
Gross sales of VOIs	149,116		-		149,116		66		166,525		-		166,525		75
Estimated uncollectible VOI notes receivable ⁽²⁾	(21,521	)	-		(21,521	)	(14	)	(58,050	)	-		(58,050	)	(35	)
Sales of VOIs	127,595		-		127,595		56		108,475		-		108,475		49
Cost of VOIs sold ⁽³⁾	(32,003	)	-		(32,003	)	(25	)	(32,130	)	-		(32,130	)	(30	)
Gross profit ⁽³⁾	95,592		-		95,592		75		76,345		-		76,345		70
Fee-based sales commission revenue	-		52,532		52,532		23		-		37,458		37,458		17
Other resort fee-based services revenues	-		53,325		53,325		23		-		50,181		50,181		23
Cost of other resort fee-based services	-		(28,286	)	(28,286	)	(12	)	-		(25,197	)	(25,197	)	(11	)
Net carrying cost of VOI inventory	(9,863	)	-		(9,863	)	(4	)	(7,910	)	-		(7,910	)	(4	)
Selling and marketing expense ⁽⁴⁾	(68,514	)	(35,767	)	(104,281	)	(46	)	(76,331	)	(25,690	)	(102,021	)	(46	)
Resorts G & A expense ⁽⁴⁾	(9,372	)	(4,893	)	(14,265	)	(6	)	(10,839	)	(3,648	)	(14,487	)	(7	)
Bluegreen Resorts operating profit ⁽⁵⁾	$7,843		$36,911		$44,754		20	%	($18,735	)	$33,104		$14,369		6	%

⁽¹⁾		Amount for “fee-based services business” represents sales of VOIs made on behalf of third parties, which are transacted as sales of timeshare interests in the Bluegreen Vacation Club and through the same sales and marketing process as the sale of the Company’s VOI inventory as represented under “traditional timeshare business.”
⁽²⁾		Percentages for estimated uncollectible VOI notes receivable are calculated as a percentage of gross sales of VOIs.
⁽³⁾		Percentages for cost of VOIs sold and the associated gross profit are calculated as a percentage of sales of VOIs.
⁽⁴⁾		Selling and marketing expenses and Resorts G&A expenses are allocated pro rata based on system-wide sales of VOIs, net.
⁽⁵⁾		General and administrative expenses attributable to corporate overhead have been excluded from the table. Corporate general and administrative expenses totaled $9.3 million and $7.8 million for the three months ended September 30, 2011 and 2010, respectively, and $28.5 million and $30.1 million for the nine months ended September 30, 2011 and 2010, respectively.
⁽⁶⁾		Unless otherwise indicated.

System-wide sales of VOIs rose to $91.0 million in Q3 2011 from $89.5 million in Q3 2010, the result of a higher number of sales transactions, partially offset by a decline in average sales price per transaction. Total VOI sales transactions rose to 7,662 in Q3 2011 from 7,361 in Q3 2010, with a deliberate decrease in Bluegreen VOIs sales transactions (traditional timeshare business) offset by an increase in the number of sales made on behalf of third parties (fee-based services business). Total prospect tours in Q3 2011 rose to 48,773 from 47,750 in Q3 2010, with new prospect tours increasing to 29,125 in Q3 2011 from 28,463 in Q3 2010. Total sale-to-tour conversion ratio in Q3 2011 rose to 15.7% from 15.4% in Q3 2010, and the new prospect sale-to-tour conversion ratio was 11.1% in Q3 2011 compared to 10.1% in Q3 2010. Average sales price per transaction declined to $11,851 for Q3 2011 from $12,240 for Q3 2010.

Charges for estimated uncollectible VOI notes receivable decreased by 68% in Q3 2011 from Q3 2010. The Company updates its estimates of uncollectible VOI notes receivable each quarter, and consequently, the charge against sales in a particular quarter for such uncollectibles may be impacted, favorably or unfavorably, by a change in expected losses on prior periods’ financed sales. In Q3 2010 and, to a lesser extent, in Q3 2011, we increased our allowance for loan losses for loans generated prior to December 15, 2008, the date on which we implemented our FICO score-based credit standards.

As a percentage of system-wide sales of VOIs, net, selling and marketing expenses rose to 45% in Q3 2011 from 42% in Q3 2010, due to the fluctuations in the mix of marketing programs, including a reduced proportion of sales to existing owners, which carry a relatively lower marketing cost, and changes in sales deferred under timeshare accounting rules. Selling and marketing expenses during the nine months ended September 30, 2011 were consistent with such expenses for the nine months ended September 30, 2010, at 46% of system-wide sales in both periods.

Operating profit from the fee-based services business rose to $14.5 million in Q3 2011 from $12.9 million in Q3 2010, reflecting an increase in sales of third-party inventory.

Operating profit at Resorts rose to $17.9 million, or 20% of system-wide sales of VOI’s, net, for Q3 2011 from $1.6 million, or 2% of system-wide sales of VOI’s, net, for Q3 2010. Resorts operating profit for Q3 2010 included the previously discussed non-cash charge to increase the reserve for loan losses on VOI notes receivable generated prior to December 15, 2008, partially offset by the related non-cash reduction of cost of sales.

INTEREST INCOME AND INTEREST EXPENSE

Net interest spread is the excess of interest income primarily earned on $635.9 million of VOI notes receivable held as of September 30, 2011, net of interest expense incurred on $497.0 million of receivable-backed debt and $214.8 million of other debt as of September 30, 2011. Pre-tax income from net interest spread in Q3 2011 was $10.3 million as compared to $11.3 million in Q3 2010, due to the continued decrease in Bluegreen’s VOI notes receivable portfolio, reflecting continuing efforts to increase the amount of sales that are realized in cash, and growth in sales on behalf of fee-based services clients, as such sales typically do not result in a Bluegreen note receivable.

DEFINITIVE MERGER AGREEMENT WITH BFC FINANCIAL CORPORATION

As Bluegreen announced today, it has entered into a definitive merger agreement with BFC Financial Corporation (“BFC”) (Pink Sheets:BFCF.PK) which provides for a merger that will, subject to the terms and conditions of the agreement, result in Bluegreen becoming a wholly-owned subsidiary of BFC.

ABOUT BLUEGREEN CORPORATION

Founded in 1966 and headquartered in Boca Raton, FL, Bluegreen Corporation is a leading timeshare sales, marketing and resort management company. Bluegreen Resorts manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 160,000 owners, over 59 owned or managed resorts, and access to more than 4,000 resorts worldwide. Bluegreen also offers a portfolio of comprehensive, turnkey, fee-based service resort management, financial services, and sales and marketing on behalf of third parties. For more information, visit www.bluegreencorp.com.

Statements in this release may constitute forward looking statements and are made pursuant to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Forward looking statements are based largely on expectations and are subject to a number of risks and uncertainties including, but not limited to, the risks and uncertainties associated with economic, credit market, competitive and other factors affecting the Company and its operations, markets, products and services; risks relating to the merger with BFC, including the potential benefits of the merger and the risk that the merger may not be consummated in accordance with the contemplated terms, including in the contemplated timeframe, or at all; the general risks associated with strategic transactions, including the Company’s decision to sell Bluegreen Communities; additional impairment charges may be required with respect to the assets of Bluegreen Communities; the agreement to sell Bluegreen Communities may not be consummated on the terms of the agreement or at all; the sale of Communities may not result in anticipated improvements in our operating results and financial condition; the Company’s efforts to improve its liquidity through cash sales and larger down payments on financed sales may not be successful; the performance of the Company’s vacation ownership notes receivable may deteriorate, and the FICO® score-based credit underwriting standards may not have the expected effects on the performance of the receivables; the Company may not be in a position to draw down on its existing credit lines or may be unable to renew, extend, or replace such lines of credit; the Company may require new credit lines to provide liquidity for its operations, including facilities to sell or finance its notes receivable; the Company may not be able to successfully securitize additional timeshare loans and/or obtain adequate receivable credit facilities in the future; risks relating to pending or future litigation, regulatory proceedings, claims and assessments; sales and marketing strategies may not be successful; marketing costs may increase and not result in increased sales; sales to existing owners may not continue at current levels or decrease; fee-based service initiatives may not be successful and may not grow or generate profits as anticipated; deferred sales may not be recognized to the extent or at the time anticipated; and the risks and other factors detailed in the Company’s SEC filings, including those contained in the “Risk Factors” sections of such filings.

Condensed Consolidated Statements of Operations (In 000’s, except per share data) (Unaudited)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2011			2010			2011			2010
Revenues:
Gross sales of VOIs	$	56,658		$	72,237		$	149,116		$	166,525
Estimated uncollectible VOI notes receivable		(10,770	)		(33,448	)		(21,521	)		(58,050	)
Sales of VOIs		45,888			38,789			127,595			108,475

Fee-based sales commission revenue		23,460			15,148			52,532			37,458
Other fee-based services revenues		18,838			17,476			53,325			50,181
Interest income		23,533			26,461			71,986			80,878
		111,719			97,874			305,438			276,992
Costs and expenses:
Cost of VOIs sold		11,349			13,696			32,003			32,130
Cost of other resort operations		12,912			11,584			38,149			33,107
Selling, general and administrative expenses		56,098			53,164			149,448			149,191
Interest expense		13,225			15,182			41,746			46,469
Other expense, net		—			2,008			910			2,397
		93,584			95,634			262,256			263,294
Income before non-controlling interest, provision (benefit) for income taxes and discontinued operations		18,135			2,240			43,182			13,698
Provision (benefit) for income taxes		5,939			(371	)		14,650			2,888
Income from continuing operations		12,196			2,611			28,532			10,810
Loss from discontinued operations, net of income taxes		(2,626	)		(16,130	)		(40,389	)		(24,969	)
Net income(loss)		9,570			(13,519	)		(11,857	)		(14,159	)
Less: Net income attributable to non-controlling interest		2,520			3,189			5,261			6,097
Net income (loss) attributable to Bluegreen Corporation	$	7,050		$	(16,708	)	$	(17,118	)	$	(20,256	)

Income (loss) attributable to Bluegreen Corporation per common share - Basic
Earnings (loss) per share from continuing operations attributable to Bluegreen shareholders	$	0.31		$	(0.02	)	$	0.75		$	0.15
Loss per share from discontinued operations		(0.08	)		(0.52	)		(1.29	)		(0.80	)
Earnings (loss) per share attributable to Bluegreen shareholders	$	0.23		$	(0.54	)	$	(0.55	)	$	(0.65	)

Income (loss) attributable to Bluegreen Corporation per common share - Diluted
Earnings (loss) per share from continuing operations attributable to
Bluegreen shareholders	$	0.30		$	(0.02	)	$	0.72		$	0.15
Loss per share from discontinued operations		(0.08	)		(0.52	)		(1.26	)		(0.79	)
Earnings (loss) per share attributable to Bluegreen shareholders	$	0.22		$	(0.54	)	$	(0.54	)	$	(0.64	)

Weighted average number of common shares:
Basic		31,245			31,178			31,211			31,162
Diluted		32,429			31,178			32,156			31,527



Condensed Consolidated Balance Sheets (In 000’s)

	September 30,		December 31,
	2011		2010
ASSETS	(Unaudited)

Unrestricted cash and cash equivalents	$	70,396	$	72,085
Restricted cash ($42,932 and $41,243 held by VIEs at September 30, 2011
and December 31, 2010, respectively)		56,521		53,922
Notes receivable including gross securitized notes of and $471,595
$533,479 (net of allowance of $111,820 and $143,160 at September 30, 2011
and December 31, 2010, respectively)		530,206		568,985
Prepaid expenses		8,201		4,882
Other assets		51,940		56,790
Inventory		308,179		337,684
Property and equipment, net		70,739		73,815
Assets held for sale		30,250		87,769
Total assets	$	1,126,432	$	1,255,932

LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Accounts payable	$	9,137	$	8,243
Accrued liabilities and other		60,464		60,518
Deferred income		24,010		17,550
Deferred income taxes		14,738		25,605
Receivable-backed notes payable - recourse ($17,271 and $22,759 held by
by VIEs at September 30, 2011 and December 31, 2010, respectively)		114,955		135,660
Receivable-backed notes payable - non-recourse (held by VIEs)		382,089		436,271
Lines-of-credit and notes payable		103,981		142,120
Junior subordinated debentures		110,827		110,827
Total liabilities		820,201		936,794


Total shareholders’ equity		306,231		319,138
Total liabilities and shareholders’ equity	$	1,126,432	$	1,255,932

Source: Bluegreen Corporation

Contact:

Bluegreen Corporation

Tony Puleo,

561-912-8270

Chief Financial Officer

tony.puleo@bluegreencorp.com

or Investor Relations:

The Equity Group Inc.

Devin Sullivan,

212-836-9608

Senior Vice President

dsullivan@equityny.com

********************************************************************

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Tags: BFC Financial, BFCF, Bluegreen Corporation, Bluegreen Vacation Club, BXG, John M Maloney Jr, Marketing, NYSE:BXG, Pink Sheets:BFCF.PK, resort management company, sales, timeshare company, timeshare resort properties, vacation ownership plan, VOI business

Posted in Top News |

Microsoft Internet Explorer 9 a competition edge

Thursday, September 16th, 2010

Reported by: Emon CRWE Newswire Middle East correspondent.

In the market of browsers a new round of battles between the major players is expected. Microsoft released the finished version of its browser, Internet Explorer 9 Beta, where it was sold with a lot of innovations, including those that will be visible to the naked eye and those which are not. The new version browser from Microsoft measure swords with the Opera 10, Google Chrome, Firefox and Apple Safari which updated its browser for a second time this year.

The IE9 was released, just a day after the release of Mozilla Firefox 4, which also had a lot of innovation. Despite the fact that now all the browser vendors are trying to align their offspring, so that innovative functionality is implemented in all these browsers but in different ways.

One of the most interesting features of the latest generation of browsers is the so-called hardware acceleration. The general idea behind this is quite simple, the graphic elements of web pages, such as images, photos, videos, will be processed by means GPU (Graphics Processing Unit), which is really needed. Such an approach should in theory speed up the loading of web pages and bring on the era of the so-called three-dimensional Internet.

One only problem arises with an approach to work with graphics systems Windows, Mac OS and Linux is that none of the players can boast about his browser being the best which offers acceleration for all systems. In most cases, acceleration is only available in Windows-versions.

Speaking of the scheduled release of Microsoft Internet Explorer 9, the corporation certifies that the browser has received more than a beautiful and easy interface, and in addition became even more closer to common Web standards, so working with it, will be easier.

The Vice-president of Microsoft and head of the profile unit Dean Hachamovich said that, their IE9 version is the first browser of Microsoft, which uses the maximum number of hardware components of the system. In addition, its engine now handles extremely complex pages, where there are layers, and a lot of dynamics, and updated in real-time data and much more.

He added that interaction of the browser with hardware components will be unthinkable at this level. This is perhaps one of the main advantages of IE9.

The Graphic chips manufacturers AMD and NVIDIA tend to agree that the browsers will benefit from the fact that it learns to work with graphics processors. David Ragones, Director of Product Marketing of the NVIDA, said that we looked at the browser and understand that in the future it will become one of the major resources of the consumers’ graphics chips.

Despite the fact that the popularity of Internet Explorer in recent years, steadily falling against the growing popularity of competitors’ developments. Internet Explorer is still the dominant browser, which is almost three times ahead of the market share of its nearest competitor.
According to the company Net-Applications, in August 2010, the share of IE in the world market amounted to 60.4%, Mozilla Firefox 22.9%, Google Chrome 7.5%, and Apple Safari 5.3%.

According to Brian Rakowski, director of product Mozilla, in IE9 there is no significant development, which previously would not have been established in other browsers, particularly in the Firefox.

At Google, they say that the main features Chrome have already overtaken IE, but on some innovations, declared in IE9 browsers will be comparable to a couple of weeks.

Moreover, speaking about the new features, such as on the hardware acceleration, Rakowski notes that their browser supports more operating systems than IE9.

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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

Tags: Acceleration, AMD, Apple Safari, Brian Rakowski., Browser, Competitors, David Ragone, Dean Hachamovich, Dynamics, Engine, Generation, Google Chrome, GPU, Graphic, Graphic chips, Graphics Processing Unit, hardware, IE9, Images, innovation, internet, Internet Explorer 9, Linux, Mac OS, Marketing, Microsoft, Mozilla Firefox, Nvidia, Opera 10, photos, Vice-President, videos, web pages, Windows

Posted in Top News |

AF, AIZ, AZN, CRWE - DrStockPick Provides Updates On Astoria Financial, Assurant, AstraZeneca and Crown Equity Holdings.

Tuesday, September 14th, 2010

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Crown Equity Holdings Inc. (CRWE.OB) is a company utilizing today’s technology to advertise, promote and market public companies globally. CRWE’s proprietary network technology allows their publishing department to get their content to millions of readers daily across the world. CRWE publishes financial content to all the major countries and covers all the accredited stock exchanges.

Crown Equity Holdings is currently in the process of expanding its in-house IT infrastructure. Although their current web page load time is better than 75% of other internet websites, when completed, the modifications will raise this load time to better then 90% of other internet websites while increasing website visitor capacity by 400%.

Crown Equity Holdings has also moved to a dedicated in-house advertising server, allowing for faster response and a wider variety of ad space offerings to those interested in advertising on their numerous internet and affiliate internet properties.

Crown Equity Holdings Inc. recently announced that its sales this year have already surpassed $1,000,000. This compares to $232,510 for the three quarters ending September 30, 2009 and $ 659,907 total sales for the year 2009.

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AstraZeneca (NYSE:AZN) reports that the European Commission (EC) has issued a positive decision for the approval of once-daily SEROQUEL XR (quetiapine fumarate) Extended Release Tablets as an add-on treatment of major depressive episodes in patients with Major Depressive Disorder (MDD) who have had sub-optimal response to antidepressant monotherapy.

This decision follows a positive recommendation by the Committee for Medicinal Products for Human Use (CHMP) in April of this year.

AstraZeneca will now move forward in obtaining local approvals. This is a 30 day process in the 17 member states that took part in the original Mutual Recognition Procedure. For other member states timelines will vary.

AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines. As a leader in gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease medicines, AstraZeneca generated global revenues of US $32.8 billion in 2009.

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Assurant, Inc. (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced recently that Brian D. Koppy, 41, is joining the company as vice president, investor relations.

Koppy brings 20 years of experience to his role, most recently as director of investor relations and communications at Barnes Group Inc., a diversified specialty industrial business. Prior to joining Barnes Group Inc., Mr. Koppy held a variety of senior leadership roles within finance, strategy and planning, and investor relations at Aetna Inc.

Assurant is a premier provider of specialized insurance products and related services in North America and select worldwide markets. Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $26 billion in assets and $8 billion in annual revenue.

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Astoria Financial Corporation (NYSE:AF), with assets of $19.7 billion, is the holding company for Astoria Federal Savings and Loan Association. Established in 1888, Astoria Federal, with deposits in New York totaling $12.2 billion, is the largest thrift depository in New York and embraces its philosophy of “Putting people first” by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple delivery channels.

Astoria Federal commands the fourth largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states. Astoria Federal originates mortgage loans through its banking and loan production offices in New York, an extensive broker network covering sixteen states, primarily along the East Coast, and the District of Columbia, and through correspondent relationships covering seventeen states and the District of Columbia.

Astoria Federal Savings held its 5th annual essay contest for children, ages 5-12, asking the students to complete the statement: “If I save a lot today, in the future I could…” The essay contest was part of Astoria Federal Savings’ fun and educational Teach Children to Save Celebrations in April, in every neighborhood branch throughout Brooklyn, Queens, Nassau, Suffolk and Westchester.

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THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. DrStockPick.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold DrStockPick.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://drstockpick.com/disclaimer) .Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period.

Tags: advertising, AIZ, Assurant, Astoria Federal, Astoria Financial, AstraZeneca, AZN, bankins, biopharmaceutical, Crown Equity Holdings, CRWE.OB, depository, Depression, digital media, financial services, Insurance, internet, Marketing, NYSE:AF, NYSE:AIZ, NYSE:AZN, prescription medicine, publisher, savings, search engine, stock exchange, technology, websites

Posted in Top News |

MET, MRO, DTV – Stocks by DrStockpick.com

Monday, September 13th, 2010

MetLife, Inc. (NYSE:MET) Company’s percentage change declined by 0.91%, closed at $40.49 with the overall traded volume of 5.84 million shares. Its price to earning ratio ended at 17.20 and its net profit margin was 4.11%. MetLife, Inc., through its subsidiaries, provides insurance, employee benefits, and financial services in the United States, Latin America, the Asia Pacific, Europe, the Middle East, and India. It offers group life insurance products and services as employer-paid benefits, including variable life, universal life, and term life products, as well as employee paid supplemental life products; individual life insurance products and services comprising variable life, universal life, term life, and whole life products, as well as a range of mutual funds and other securities products; and non-medical health insurance products and services, such as dental insurance, group short- and long-term disability, individual disability income, long-term care, critical illness, and accidental death and dismemberment coverages, as well as employer-sponsored auto and homeowners insurance and administrative services-only arrangements to employers.

Marathon Oil Corporation (NYSE:MRO) Company’s percentage change advanced by 1.73%, closed at $32.32 with the overall traded volume of 5.83 million shares. Its price to earning ratio ended at 13.09 and its net profit margin was 2.66%. Marathon Oil Corporation, through its subsidiaries, engages in the exploration, refining, marketing, and transportation of liquid hydrocarbons, natural gas, crude oil, and other petroleum products worldwide. It operates in four segments: Exploration and Production; Oil Sands Mining; Integrated Gas; and Refining, Marketing, and Transportation. The Exploration and Production segment involves in the exploration, production, and marketing of liquid hydrocarbons and natural gas on a worldwide basis.

DIRECTV (NASDAQ:DTV) Company’s percentage change advanced by 0.60%, closed at $40.04 with the overall traded volume of 5.54 million shares. Its price to earning ratio ended at 26.10 and its net profit margin was 6.58%. DIRECTV provides digital television entertainment in the United States and Latin America. The company provides direct-to-home (DTH) digital television services, as well as multi-channel video programming distribution services in the United States. It distributes approximately 2,000 digital video and audio channels, including basic entertainment and music channels, premium movie channels, regional and specialty sports networks, Spanish and other foreign language special interest channels, pay-per-view movie and event choices, and national high-definition television channels.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. DrStockPick.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold DrStockPick.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://drstockpick.com/disclaimer) .Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period.

Tags: and financial services, and transportation of liquid hydrocarbons, Crude oil, digital television entertainment., Directv, DTV, employee benefits, exploration, Inc., Marathon Oil Corporation, Marketing, MET, MetLife, MRO, NASDAQ, NASDAQ:DTV, Natural gas, NYSE, NYSE:MET, NYSE:MRO, provides insurance, refining

Posted in Stock Alerts |

ORCL, CRWE, EQLB - DrStockPick Reports On Oracle, Crown Equity Holdings Inc and EQ Labs Inc.

Tuesday, September 7th, 2010

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Crown Equity Holdings Inc. (OTCBB:CRWE) announced recently that its sales this year have already surpassed $1,000,000. This compares to $232,510 for the three quarters ending September 30, 2009 and $ 659,907 total sales for the year 2009.

“Based on our sales to date, we had more than 4 times the sales for the same period last year and are 34% ahead of last year’s total sales,” commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. “Our growth in sales along with our investments in infrastructure and people give the company a basis for supporting future growth of the magnitude we have seen so far this year,” stated Bosket.

Crown Equity Holdings Inc. has expanded its internet footprint internationally to include the following countries: Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Korea, Mexico, New Zealand, Singapore, Spain, Taiwan and the UK.

EQ Labs, Inc. (Pink Sheets:EQLB) reported recently that poker superstar and celebrity spokesperson Vanessa Rousso appeared with Company CEO Mo Owens on the Las Vegas affiliate of ABC television (KTNV - Channel 13) promoting EQ Labs effervescent energy tablet.

On June 24, 2010, the company announced that Vanessa Rousso had signed an endorsement contract with EQ Labs. Ms. Rousso is a member of the prestigious Team PokerStars. In addition, she signed an endorsement contract as a celebrity spokesperson for Go Daddy in 2009. Ms. Rousso also appeared in the Sports Illustrated Swimsuit Issue.

EQ Labs is engaged in the development, marketing and sale of EQ (”The Smart Energy Drink”). EQ is an effervescent tablet that can be dissolved in any beverage to provide instant energy. Consisting of a blend of essential vitamins, Gingko Biloba, and less caffeine than a cup of coffee. EQ is currently sold at Best Buy, 7-Eleven, Walgreens and other leading retailers.

Oracle (NASDAQ: ORCL) reports that Mark V. Hurd has joined Oracle as President and has been named to Oracle’s Board of Directors. Mr. Hurd will report to Oracle CEO Larry Ellison.

“Mark did a brilliant job at HP and I expect he’ll do even better at Oracle,” said Oracle CEO Larry Ellison. “There is no executive in the IT world with more relevant experience than Mark. Oracle’s future is engineering complete and integrated hardware and software systems for the enterprise. Mark pioneered the integration of hardware with software when Teradata was a part of NCR.”

“Mark is an outstanding executive and a proven winner,” said Oracle President Safra Catz. “I look forward to working with him for years to come. As Oracle continues to grow we need people experienced in operating a $100 billion business.”

“I believe Oracle’s strategy of combining software with hardware will enable Oracle to beat IBM in both enterprise servers and storage,” said Mark Hurd. “Exadata is just the beginning. We have some exciting new systems we are going to announce later this month at Oracle OpenWorld. I’m excited to be a part of the most innovative technology team in the IT industry.”

NOTE: HP has filed a lawsuit to stop Mr. Hurd from becoming President of Oracle.

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THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. DrStockPick.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold DrStockPick.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://drstockpick.com/disclaimer) .Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period. Crown Equity Holdings Inc. (CRWE.OB) has received fifteen thousand dollars in cash from a third party (EEA, Inc ) for (7) days of advertising for EQ Labs, Inc. (EQLB.PK)