NEW YORK, June 6, 2011 (GLOBE NEWSWIRE) -- Flurida Group, Inc. (OTCBB:FLUG) is pleased to release its corporate update for the First Quarter of the Year.
Highlights include:
-Increase in Credit Line of $2M with a US based Bank
-Sales for the First Quarter increased by 38% year over year
-Gross Profit increased by 38% year over year
Jeff Ding, CEO, commented, "We are optimistic about our future growth prospects. We have been self financing our operations to date, and our public listing has allowed us to improve our finances. Our creditors are willing to work with us due to the caliber of our cliental as well as our established track record as a fiscally responsible entity. Added financing will allow us to entertain new projects and improve our leverage with our existing suppliers. We anticipate our growth rate to continue at or above our expectations."
Complete Financial information can be found at
About Flurida Group Inc.
Flurida Group Inc. engages in sourcing, distributing, and marketing appliance parts to refrigerator manufacturers. It offers a variety of products for automatic refrigerator built-in icemakers, refrigerator through-door ice water systems, electronic control systems; and shade pole motor and motor assembly for refrigerators or freezers. Headquartered in Carson City, California, Flurida has operations in North America, Europe and China. For more info, please see
Legal Disclaimer
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including our ability to continue to consummate repurchases under the share repurchase program due to changes in our stock price, corporate or other market conditions. The reader is cautioned not to rely on these forward-looking statements. These and other risks are described in detail in Flurida's Quarterly Report on Form 10-Q for the 1st quarter of 2011, as filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Flurida and Flurida assumes no obligation to update any such forward-looking statements.
CONTACT: Flurida Group, Inc. Investor Relations: Pivo Associates, 212.924.3548