Sonic 2Q net rises on positive sales, debt payments

Sonic Corp., owner and franchisor of more than 3,500 drive-in restaurants, reported Tuesday a swing to profitability in its second quarter, driven by positive same-store sales and a one-time gain from the early payment of debt.

For the quarter ended Feb. 28, Sonic reported net income of $4.3 million, or 7 cents per share, compared with a loss of $642,000, or 1 cent per share, in the same quarter a year earlier. During the second quarter, Sonic repurchased $62.5 million of the company&r

Register to view the full article

Register to view this article

Already a member? .

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish