Industry News | April 12, 2001

Sonic Completes Acquisition of 35

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Sonic Corp. (Nasdaq/NM:SONC) today announced that its operating division has completed the previously announced acquisition of 35 franchise drive-ins, all of which are located in the Tulsa, Oklahoma market. The Tulsa area stores became part of company operations on April 1, 2001.

The company also reported today that the estimated increase in system-wide same-store sales during March was within the anticipated range of a 2% to 4% and that it remains comfortable with earnings growth in the range of 18% to 20% during the balance of fiscal 2001. The company expects to report results for the third quarter ended May 31, 2001, during the last week in June.