Shamir Optical Industry's revenues rose by 11.9 percent to $23.1 million in the 1st quarter, as the company's U.S. subsidiary, Shamir Insight, experienced solid growth and Shamir's European division operated according to the company's plans. The gross margin expanded by 450 basis points to 57.5 percent. The company's operating income suffered a decline of 36.2 percent to $2.4 million, stemming from efforts to bring new operations in France and Turkey on line that the company said cost it roughly $1.2 million in the period. Net income still improved by 10.5 percent to $2.1 million, and excluding the effects of non-cash stock-based compensation expenses, net income stood at $2.4 million. Shamir is in the process of acquiring as much as 51 percent interest in a laboratory in Thailand, to help the company launch into the Thai market and serve as a platform to support its worldwide operations.