News
Sonic sees second-quarter net income decline, comps increase
April 2, 2007
OKLAHOMA CITY — Same-store sales at Oklahoma City-based Sonic Corp. grew 2 percent in the second quarter of 2006, the company announced March 28.
Revenues for the quarter increased 8 percent, up from $148.9 million a year ago to $161.5 million.
For the quarter, net income dropped 52 percent, down from $12.9 million in 2Q '06 to $6.2 million in 2Q '07. Company officials said the drop was due to a one-time debt payoff, and tax and tender offer charges.
Related Media
Subscribe
Get the latest news and resources from QSR Web.
