Industry News | March 30, 2007

Sonic Reports Second Quarter Performance

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Sonic Corp., the nation's largest chain of drive-in restaurants, today announced financial results for the second quarter and first half of fiscal 2007, which ended February 28, 2007. Highlights of the company's second-quarter performance included:

-- System-wide same-store sales growth of two percent

-- The fourteenth consecutive quarter of growth in average drive-in level profits

-- An eight percent increase in total revenues to $161.5 million from $148.9 million in the prior-year period

-- Net income per diluted share of $0.09, as expected, including special items outlined below totaling $0.07 per diluted share,versus $0.14 per diluted share in the year-earlier quarter

-- A 14 percent increase in net income per diluted share, excluding special items, to $0.16 from $0.14 per diluted share in fiscal 2006

-- The opening of 29 new drive-ins