Sonic Corp. has a market cap of $579.4 million; its shares were traded at around $9.4 with a P/E ratio of 18.9 and P/S ratio of 1.1. Sonic Corp. had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Sonic Corp. the business predictability rank of 3.5-star.
This is the annual revenues and earnings per share of SONC over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of SONC.
Highlight of Business Operations:Revenues increased slightly to $113.5 million for the second quarter of fiscal year 2011 from $113.3 million for the same period last year and declined 2.9% to $242.7 million for the first six months of fiscal year 2011 from $249.8 million for the same period last year. The decrease in revenues for the first half of 2011 was primarily attributable to the impact of refranchising 16 Company-owned Drive-Ins in the second quarter of fiscal year 2010 and, to a lesser extent, drive-ins that were closed during or subsequent to the second quarter of fiscal year 2010. Margins at Company-owned Drive-Ins, adjusted for noncontrolling interests, decreased slightly as a result of higher payroll and employee benefits costs and to a lesser extent higher food and packaging costs. Net interest expense declined $6.6 million for the second quarter and $8.0 million for the first six months of fiscal year 2011 as compared to the same periods last year as a result of debt repurchases, scheduled principal repayments and a $5.2 million gain from early extinguishment of debt recognized during the second quarter of fiscal year 2011. Net income was $4.3 million or $0.07 per diluted share for the second quarter of fiscal year 2011 versus a loss of $0.6 million or $0.01 per diluted share for the same period last year. Net income and diluted earnings per share for the first six months of fiscal year 2011 was $11.6 million and $0.19, respectively, as compared to net income of $5.6 million or $0.09 per diluted share for the same period last year. Excluding a one-time tax benefit of $1.1 million in the first quarter of fiscal year 2011 and a $3.3 million after tax gain on the early extinguishment of debt during the second fiscal quarter of 2011, net income and diluted earnings per share for the first six months of fiscal year 2011 were $7.2 million and $0.12, respectively. We believe the exclusion of these items in evaluating the change in net income and diluted earnings per share for the period provides useful information to investors and management regarding the underlying business trends and the performance of our ongoing operations and is helpful for period-to-period and company-to-company comparisons.
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