Peachpit, Written by Kris Hadlock
There are many little known features in ActionScript 3 that make life easier. The label statement is one of those gems that actually makes programming kind of fun.
Label statements can be assigned to loops as a reference, similar to a variable. Instead of the equal sign as the assignment operator, you use a colon between the label statement and the start of the loop.
Read the original article at Peachpit