Profit and revenues were driven by increasingsame-store sales and new restaurants. Same-store saleswere up 6% system-wide and 7.4% for franchiserestaurants on an annual basis, marking the chain's19th consecutive year of same-store sales growth. And,175 drive-ins opened during fiscal 2005 including 138franchise drive-ins.
"We're very pleased to see such strong growth," saidSonic's chairman and CEO Clifford Hudson during thechain's end-of-the-year earnings call. He noted that2005 earnings per share increased 19% to $1.21compared with $1.02 last year. During the fiscal year,the chain reached the milestone of $1 million in unitsales.
During fiscal 2005, Sonic increased its mediaexpenditures, spending $125 million on cableadvertising. That amount is expected to increase infiscal 2006 to approximately $140 million.
Looking ahead, Sonic expects diluted earnings pershare of 28 cents to 30 cents for the first fiscalquarter of 2006 that ends on November 30, 2005.
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