Cost of sales was $1.82 billion for the first quarter of 2011, compared to $1.48 billion for the same period of 2010. Gross margin was $149m for the first quarter of 2011, compared to $418m for the same period of 2010.

For the first quarter of 2011, selling, general and administrative expenses were $102m, compared to $113m for the same period of 2010. Operating income was $49m, compared to $246m for the same period of 2010.

Income before income taxes was $84m for the first quarter of 2011, compared to $273m for the same period of 2010. Provision for income taxes was $28m, compared to $25m for the same period of 2010.

Net income was $56m for the first quarter of 2011, compared to $248m for the same period of 2010. Adjusted EBITDA for the first quarter of 2011 was $159m, compared with $161m for the same period of 2010.

As of March 31, 2011, Visteon had global cash balances of $901m, including $70m of restricted cash, compared with $979m and $74m, respectively, at the end of 2010. Total debt was $566m as of March 31, 2011.

Visteon has increased its sales and earnings guidance for full year of 2011. The company expects full-year 2011 product sales in the range of $7.75 billion to $7.85 billion and adjusted EBITDA in the range of $640m to $680m. Free cash flow is expected to be a use of approximately $175m.

Will the firm further improve net sales in Q2?

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