Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OKLAHOMA CITY-Sonic Corp. had a record-breaking 2005with increases in profit, revenues and same-storesales. The chain, which operates more than 3,000drive-ins in the United States and Mexico, ended theyear with a 20% increase in profit to $75.4 millionand a 16% increase in revenues to $623.1 million.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.