Sonic 1Q net income rises 23.5%

Sonic 1Q net income rises 23.5%

Systemwide same-store sales increased 5.3 percent at the quick-service chain

Sonic Corp. profit rose 23.5 percent in the first quarter ended Nov. 30, and systemwide same-store sales increased 5.3 percent, the company reported Tuesday.

The Oklahoma City-based company, which has 3,529 drive-ins nationwide, said net income rose 23.5 percent, to $12.5 million, or 24 cents a share, compared with $10.1 million, or 18 cents a share, in the same period a year ago. Revenue rose 4.3 percent, to $145.8 million, from $139.9 million in the prior-year quarter.

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