Despite lower sales in Europe and supply constrained growth in North America, net income rose 17% to €632 million ($717 mm) from €540 million for the first quarter ended Mar. 31 on a 6% gain in revenues to €5,883 million ($6,678 mm) from €5,548 million as the high margin growth in China more than offset the challenges of its other key markets. With an assist from currency on the gross margin as well as channel and geographic mix, the Big a saw its operating margin expand to 14.9% from 13.4% prior. The forecast for the year remained unchanged for 5-8% ... Log in to view full article.