News
Sonic net off 13 percent
June 21, 2007
OKLAHOMA CITY — Comparable-store sales for drive-in restaurant chain Sonic Corp. grew 4 percent in the third quarter ended May 31, 2007, the company announced.
Revenue for the chain stood at $210 million for the quarter, up 13 percent compared with revenue of $187 million for the 2006 third quarter. Year–to-date, revenue stood at $546 million, up 10 percent compared with revenue of $495 for the first three quarters of 2006.
Sonic recorded a net income of $20.6 million for the third quarter, down 13 percent from a net income of $29 million for Q3 '06. Year-to-date, net income stood at $42 million, down 21 percent from a net income of $53 million for the first nine months of 2006.
Sonic operates 3,291 restaurants as of May 31, 2007, compared with 3,129 restaurants at this time last year.
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