Wyndham Worldwide 1Q profit falls on rebranding charges

For the period ended March 31, earnings declined to $42 million, or 24 cents per share, compared with $86 million, or 45 cents per share, in the previous year. Revenue was flat at $1.01 billion.

Excluding $20 million in legacy and rebranding charges, net income was $62 million, or 35 cents per share, the company said. Year-ago adjusted profit was $81 million, or 43 cents per share.

Legacy charges include healthcare fees and other benefit-related costs companies pay for current workers and retired pensioners.

Analysts expected a profit of 33 cents per share on sales of $1.04 billion, according to a Thomson Financial survey.

Systemwide revenue per available room climbed 2.7 percent during the quarter.

Revenue per available room, also known as revpar, is a key gauge of a lodging company's performance.