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BOCA RATON, FL-Sales in both the resorts and communitiesdivisions of Bluegreen Corp. rose during first quarter. But themandatory implementation of a change in the rules for severalaspects of timeshare accounting reduced first-quarter resort salesby a net of $6.4 million.
"As expected, the adoption of the new accounting regulationsimpacted our results for the first quarter," said George F.Donovan, president and CEO, during a conference call. The new rulesrequire "certain timeshare sales to be deferred," he said, "whichshifted recognition of [some] timeshare profits from first quarterto second quarter."
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