OKLAHOMA CITY Sonic Corp. on Tuesday reported its net income fell 16.5 percent in the third quarter as "lower-than-expected sales" and rising costs offset a slight increase in revenue. Sonic, the operator or franchisor of more than 3,400 drive-ins, reported third-quarter net income of $17.2 million, or 28 cents a share, compared with $20.6 million, or 31 cents a share, in the year-ago quarter. Revenues rose 1.5 percent, to $213 million, from $209.9 million in the same quarter of ...
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Contact: Desiree Torres Desiree.Torres@penton.com