OKLAHOMA CITY Sonic Corp., owner or franchisor of 3,400 drive-ins, said its fourth quarter profit fell 8 percent from a year ago because of slow sales and higher labor and food costs. Net income for the quarter, which ended Aug. 31, fell to $20.2 million, or 33 cents per share, from $22 million, or 34 cents per share, the year before, Sonic said.Revenue rose 1 percent to $226.9 million from $224.3 million in the year-ago fourth quarter. Sales at units in which the company owns a ...
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Contact: Desiree Torres Desiree.Torres@penton.com