>PARSIPPANY, N.J. 04-28-2010 —Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months ended March 31, 2010.
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