Sonic reports 13.4% dip in 3rd-Q income

OKLAHOMA CITY Sonic Corp. posted a 13.4-percent drop in its third-quarter net income as increased debt and higher interest expenses related to the company's recapitalization and share repurchases deflated a revenue jump of 12.6 percent to $209.9 million.

For the quarter ended May 31, Sonic earned $20.6 million, down from net income of $23.8 million in the year-ago third quarter. Per-share earnings rose to 31 cents in the latest quarter, up from 27 cents a year

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