Sonic Corp. reported Monday a 13.4-percent increase in net income for the third quarter ended May 31, on a 5.3-percent increase in same-store sales.

"Same-store sales for the quarter were especially strong, driven by our innovative product news, layered daypart promotional strategy and increased media efficiency,” Clifford Hudson, chief executive of Oklahoma City, Okla.-based Sonic, said in a statement.

"We have implemented our new point-of-sale system in all of our company drive-ins and expect to have the new digital point-of-purchase technology implemented in all of our company drive-ins by the end of summer,” Hudson added.

Sonic has more than 3,500 drive-in restaurants nationwide.
 

3Q NET INCOME

Result: $16.8 million, or 30 cents per share
% Increase: 13.4% (from $14.8 million, or 26 cents per share)

3Q REVENUE

Result: $152.2 million
% Increase: 3.8% (from $146.6 million)

3Q SAME-STORE SALES

% Increase systemwide: 5.3%


% Increase at franchised units: 5.3%


% Increase at company-owned units: 5.2%


Source: Company report



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Same-Store Sales at NRN.com

Contact Ron Ruggless at ronald.ruggless@penton.com.
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