French lenses maker Essilor International SA (EI.FR) Tuesday said sales in the first quarter rose 24% to EUR1.27 billion boosted by the effects of recent acquisitions and a weaker euro against the U.S. dollar, the Australian dollar and the yuan.

MAIN FACTS:

- Excluding the effects of currency fluctuations and income from recent acquisitions, the company's sales in the first quarter rose 8.5%.

- Changes in the scope of consolidation increased revenue by 12.5%, with bolt-on acquisitions1 accounting for 3.3% of the increase and the 2011 strategic acquisitions of Shamir Optical and Stylemark representing 6.7%. The remaining 2.4% improvement was attributable to the Nikon-Essilor and Essilor Korea joint ventures, which are now fully consolidated after being consolidated on a 50% basis before.

- The 2.6% positive currency effect was mainly due to the rise in the US dollar and - to a lesser extent - the Chinese yuan and the Australian dollar against the euro.

- Essilor's 8.5% like-for-like growth rate reflects strong momentum in all of its host regions and divisions, particularly in the U.S., and the successful launches of new products such as Optifog and Crizal UV lenses.

- During the first quarter, Essilor purchased 1.78 million of its own shares on the market, for a total of nearly EUR102 million. The purpose was to offset the dilution resulting from the issuance of shares under performance share and stock option plans reserved for employees and senior executives. These share buybacks, combined with normal seasonal fluctuations in the business, led to a moderate increase in net debt, which stood at EUR541.5 million at March 31, 2012.

- Essilor confirms its full-year objectives of revenue growth of 12% to 15%, excluding the currency effect, and sustained high profitability excluding strategic acquisitions.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; inti.landauro@dowjones.com

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