Sonic Corp., parent to the 3,500-unit drive-in chain, reported a 72-percent decline in net income for the fourth quarter on one-time charges and continued declines in sales. The Oklahoma City-based Sonic reported net income of $4.7 million, or 8 cents per share, for the fourth-quarter ended Aug. 31, compared with earnings of $16.9 million, or 28 cents per share, in the same quarter a year earlier. Excluding one-time items, which included a $15 million impairment charge, per share earnings ...
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Contact: Desiree Torres Desiree.Torres@penton.com