Sonic Reports Year-End 2010 Results

• Net income per diluted share totaled $0.08 versus net income per diluted share of $0.28 in the year-earlier quarter;
• Excluding special items, net income per diluted share was $0.23 in the fourth quarter of 2010 versus $0.29 in the same period last year (see reconciliation later in this release);
• System-wide same-store sales declined 6.4% during the fourth quarter, with same-store sales declining 6.4% at franchise drive-ins and 6.1% at company-owned drive-ins; and
• Franchise drive-in openings totaled 24 for the quarter versus 40 in the same period last year.

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Sonics Drive In "sinks" in Georgia

A Sonic fast food joint in Cleveland, Georgia, was eaten by the earth earlier this week after what was believed to have been a sinkhole opened up beneath the restaurant.

Officials are blaming heavy rains, which have dumped several inches on the region and generated flash floods.

"There were people inside the Sonic when the parking lot started giving way," said David Murphy, director of White County Emergency Management. "Everyone got out without injury."

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Hamburger Chain Sonic Sees Decline in Comps this Quarter

Drive-in hamburger chain Sonic Corp. (SONC: 9.88, 0, 0%) reported Wednesday an expected decline in same-store sales for the coming quarter of 12% to 14% due to bad weather and cutbacks in consumer spending.

Approximately one-third of Sonic stores are based in Texas and Oklahoma, where snow storms and severe rains were common during the first part of the year. Thanks to a drop in consumer spending, the company may also see sales tax collections down by double digits.

The company has implemented new advertising and promotional strategies and improved product quality in an effort to boost sales in the third and fourth quarter of 2010.

Ahead of the Bell: Sonic shares slide

NEW YORK (AP) -- Shares of Sonic Corp. dropped in premarket trading Wednesday after its first-quarter performance and disappointing 2010 profit outlook gave few clues as to how the drive-in restaurant operator can improve sales in an increasingly competitive environment.

Late Tuesday the Oklahoma City based company reported its fiscal first-quarter profit slipped 13 percent as unemployment concerns kept consumers from eating out. Sonic also provided a lackluster 2010 earnings forecast, saying it expects profit to be flat compared with 2009's 71 cents per share.

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Sonic Reports First Quarter 2010 Results

OKLAHOMA CITY, Jan 05, 2010 (BUSINESS WIRE) -- Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced results for the first fiscal quarter ended November 30, 2009. Key elements of the company's first quarter report included:


•Net income per diluted share totaled $0.10 versus $0.12 in the year-earlier quarter;
•System-wide same-store sales declined 6.5% for the first quarter; same-store sales at partner drive-ins (those in which the company owns a majority interest) declined 9.1% in the quarter; and
•System-wide new drive-in openings totaled 25 for the quarter compared with 39 in the first quarter last year; franchise drive-in openings totaled 22 versus 34 in the same period last year.

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SONIC REPORTS YEAR-END 2009 EARNINGS

- Net income per diluted share for the quarter totaled $0.28 versus $0.33 in the year-earlier quarter;
- System-wide same-store sales declined 4.5% for the fourth quarter; same-store sales at partner drive-ins (those in which the company owns a majority interest) declined 5.3% in the quarter;
- System-wide new drive-in openings totaled 41 compared with 58 in the fourth quarter last year, reflecting primarily the company's recent decision to slow partner drive-in development in conjunction with its refranchising initiative; franchisees opened 40 drive-ins versus 45 drive-ins in the same period last year; and
- The refranchising of 11 partner drive-ins during the quarter; these transactions bring to 205 the total number of drive-ins refranchised during fiscal 2009.

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Sonic expects adjusted 2010 profit to rise

OKLAHOMA CITY (AP) -- Sonic Corp. said Thursday that its fiscal 2010 adjusted profit will climb from the previous year, helped by lower commodity costs and reduced interest expense.
The chain of drive-in restaurants anticipates adjusted earnings will rise 10 percent to 12 percent from 2009.
It hasn't reported its fiscal 2009 results yet, but is expected to do so on Oct. 20.
Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, expect 2009 earnings of 71 cents a share and 2010 earnings of 80 cents per share.

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Sonic Appoints New President of Sonic Restaurants, Inc.

OKLAHOMA CITY--(BUSINESS WIRE)--Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that Omar Janjua has joined the Company as President of its restaurant operating subsidiary, Sonic Restaurants, Inc. ("SRI"). Janjua was previously Executive Vice President and Chief Operating Officer for Steak 'n Shake Company, where he reported to the Chief Executive Officer and was responsible for the operations of 490 system restaurants with annual revenues of approximately $700 million.

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Sonic shares jump, analysts say sales may improve

Sonic Reports Third Quarter Earnings

For the third quarter ended May 31, 2009, revenues declined 10% to $191.9 million from $213.0 million in the year-earlier period, reflecting lower restaurant sales at partner drive-ins as well as the impact of refranchising on the company's revenue mix. Net income for the quarter was $16.8 million or $0.27 per diluted share, declining slightly from $17.2 million or $0.28 per diluted share in the same quarter last year. For the first nine months of the fiscal year, revenues declined 6% to $545.0 million from $577.8 million in the prior year. Net income on a year-to-date basis was $32.6 million or $0.53 per diluted share compared with $40.1 million or $0.64 per diluted share for the comparable period last year

BUY OR SELL-Will Sonic shares recover in the near-term?

SONIC REPORTS SECOND QUARTER EARNINGS

OKLAHOMA CITY (March 23, 2009) – Sonic Corp. (NASDAQ: SONC), the nation's largest chain
of drive-in restaurants, today announced results for the second fiscal quarter of 2009, which ended on
February 28, 2009. Key aspects of the company's second quarter performance included:
• Net income per diluted share for the quarter totaled $0.14, including a $0.06 gain from the
purchase of debt at a discount, versus net income per diluted share of $0.15 in the same quarter
last year;
• System-wide same-store sales declined 3.6% for the second quarter; same-store sales at partner
drive-ins (those in which the company owns a majority interest) declined 6.0% in the quarter,
with approximately one percent attributable to one less day in February 2009 due to the leap year
in 2008;
• System-wide new drive-in openings totaled 27, and 12 relocations or rebuilds were completed
versus 34 and 16, respectively, in the second quarter last year, reflecting ongoing investment by
franchisees in the Sonic system despite difficult credit markets; and
• The company recently signed agreements to refranchise 90 additional partner drive-ins in nine
markets; including four drive-ins refranchised subsequent to the end of the quarter, the total
number of partner drive-ins that have been refranchised or are under agreement to be
refranchised in the current fiscal year is now 111.

Sonic showed similar results with shares dropping over 10%

UPDATE 2-Ruby Tuesday posts loss, Sonic profit misses