Calculate size of externally loaded text

[FONT=verdana][SIZE=2][COLOR=#000000] I’m experienced with lots of script/code, but not so much with the actionscript.

[/COLOR][/SIZE][/FONT][FONT=verdana][SIZE=2][COLOR=#000000]I’m loading information dynamically into a dynamic text field. The amount of text loaded will change, and will often be too large to fit in the text field. Is there anyway to calculate the size that the text will take up so I can resize the dynamic text field to allow for the amount of text?[/COLOR][/SIZE][/FONT]
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[FONT=verdana][SIZE=2][COLOR=#000000]Thanks in advance. [/COLOR][/SIZE][/FONT]