Explain the codes

hi all,

When we create JSP dynpage along with a bean class and give its scope as application the following codes are created from the template

<b>IPortalComponentProfile profile = ((IPortalComponentRequest)getRequest()).getComponentContext().getProfile();

Object o = profile.getValue("Bean");

if(o==null || !(o instanceof newBean)){

Bean = new newBean();

profile.putValue("Bean",Bean);

} else {

Bean = (newBean) o;</b>

Could anyone explain me what it really does which would help me and the beginners in EP.

regards

Ganesh.N