Wyndham Worldwide Reports Strong First Quarter 2011 Earnings

Wyndham Worldwide Corporation (NYSE:

) today announced results for the three months ended March 31, 2011. First quarter 2011 adjusted diluted earnings per share (

) was $0.44, compared with $0.34 in the first quarter of 2010, an increase of 29%. First quarter 2011 reported diluted EPS was $0.41, an increase of 52%, compared with the same period in 2010. Free cash flow increased 11% to $185 million for the quarter ended March 31, 2011, compared with $166 million during the same period in 2010. The Company defines free cash flow as net cash provided by operating activities less capital expenditures, equity investments and development advances. Year-to-date, the Company repurchased approximately 8.2 million shares of its common stock at an average price of $31.01 for approximately $255 million.