| Bluegreen regains profit as sales rise and Bluegreen moves to 1Q profit as revenue improves |
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The Boca Raton-based company (NYSE: BXG) that manages and builds timeshare resorts posted net income of $2.5 million, or 8 cents a share, on revenue of $94.2 million in the first quarter. That(TM)s improved from a net loss of $7.9 million, or 25 cents a share, on revenue of $79.6 million in the same period a year ago. Bluegreen sold more real estate and collected more revenue from operating resorts and communities. The average price per resort sale transactions also increased. We are pleased to begin 2011 on such a positive note, with improved earnings, continued growth in cash flow from operating and investing activities, and continued growth of our fee-based services business model, Bluegreen President and CEO John M. Maloney Jr. stated in a press release. The company noted that the annual default rate for its loan portfolio was 15.3 percent for the 12 months ended March 31. Bluegreen announced in March that it planned to sell its development arm, Bluegreen Communities. [Read the full article] BEIJING, May 16, 2011 /PRNewswire-Asia-FirstCall/ -- IFM Investments Limited (NYSE:CTC - News) ("Century 21 China Real Estate" or the "Company"), a leading comprehensive real estate services provider and the exclusive franchisor for the CENTURY 21(R) brand in China, today announced its unaudited financial results for the first quarter ended March 31, 2011.Consolidated net revenue in the first quarter of 2011 was RMB137.3 million (US$21.0 million), a decrease of 19.2% from the fourth quarter of 2010, and an increase of 29.3% from the first quarter of 2010.Revenue from company-owned brokerage services in the first quarter of 2011 was RMB119.4 million (US$18.2 million), a decrease of 22.4% from the fourth quarter of 2010, and an increase of 28.0% from the first quarter of 2010. [Read the full article] XI'AN, China, May 16, 2011 /PRNewswire-Asia-FirstCall/ -- China Housing & Land Development, Inc. ("China Housing" or the "Company," NASDAQ: CHLN) today announced its financial results for the quarter ended March 31, 2011.Total revenue in the first quarter of 2011 decreased 37.4% to $22.6 million from $36.1 million in the fourth quarter of 2010 and decreased 32.8% from $33.6 million in the first quarter of 2010.Total gross floor area (GFA) sales were 28,438 sq. meters during the first quarter of 2011, compared to 30,680 sq. meters in the fourth quarter of 2010 and 61,666 sq. meters in the first quarter of 2010. Average residential selling price (ASP) in the first quarter of 2011 was RMB 6,115, compared with RMB 6,661 in the fourth quarter of 2010, and RMB 5,027 in the first quarter of 2010.Gross profit decreased 30.0% to $5.7 million from $8.2 million in the fourth quarter of 2010 and decreased 11.6% from $6.5 million in the first quarter of 2010. [Read the full article] 
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