OKLAHOMA CITY Sonic Corp. posted a 13.4-percent drop in its third-quarter net income as increased debt and higher interest expenses related to the company's recapitalization and share repurchases deflated a revenue jump of 12.6 percent to $209.9 million. For the quarter ended May 31, Sonic earned $20.6 million, down from net income of $23.8 million in the year-ago third quarter. Per-share earnings rose to 31 cents in the latest quarter, up from 27 cents a year ago, as the company's ...
Register to view this article
It’s free but we need to know a little about you to continually improve our content.
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to NRN we ask that you register now. We promise it will only take a few minutes!