FocusEvent in input textField

textField.addEventListener(FocusEvent.FOCUS_IN, onFocusIn);
textField.addEventListener(FocusEvent.FOCUS_OUT, onFocusOut);

private function onFocusIn(event:FocusEvent):void{
if(textField.text == event.target.text){
textField.text = " ";
}

}

private function onFocusOut(event:FocusEvent):void{

}

on focus out event i want to restore the original value of the input textfield or the last value.

any ideas

Thanks