Sonic Corp., owner and franchisor of more than 3,500 drive-in restaurants, reported Tuesday a swing to profitability in its second quarter, driven by positive same-store sales and a one-time gain from the early payment of debt.

Sonic Corp. said Wednesday it has repurchased $62.5 million of the company’s debt through a privately negotiated deal.

The Oklahoma City, Okla.-based parent company to the 3,500-unit drive-in chain said the purchase, combined with regularly scheduled principal payments, helps to bolster its capital structure and provide added financial flexibility.

Sonic said it expects to see a gain of about $5 million on the extinguishment of the Class A-1 variable funding senior notes.

Sonic introduced a new Footlong Quarter Pound Coney hot dog at the limited-time price of $2.99 at its 3,500 drive-ins. It is another product Sonic is counting on to boost quality perception among consumers, it said.

A Sonic spokeswoman said the special Coney is “aggressively” priced at $2.99 through Aug. 29, and the company will be assessing in July and August whether to keep that price point or modify it come September.