Wyndham Worldwide Reports First Quarter 2010 Earnings
Results Exceed Expectations Increases Full-Year Guidance
FIRST QUARTER HIGHLIGHTS:
— Adjusted first quarter 2010 diluted earnings per share (EPS) was
$0.34, compared with Company-issued guidance of $0.27 - $0.32.
— Reported first quarter 2010 diluted EPS was $0.27, compared with $0.25
in the first quarter of 2009.
— Free cash flow, which the Company defines as net cash from operations
less capital expenditures, equity investments and development
advances, increased 7% to $166 million in the first quarter of 2010,
compared with $155 million during the same period in 2009.
— For the quarter, the Company repurchased approximately 757,000 shares
of its common stock at an average price of $24.20. The repurchase
program was reactivated on February 19, 2010.
— As previously announced, the Company tripled its quarterly dividend,
paying its first dividend at the $0.12 per share level on March 15,
2010.
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