Sonic Corp. (SONC) reported that its fourth-quarter net income decreased to $16.888 million or $0.28 per share from $20.244
million or $0.33 per share last year.
Adjusted Non-GAAP net income was $17.519 million or $0.29 per share compared to $18.878 million or $0.31 per share prior year. On average, 18 analysts polled by Thomson Reuters expected the company to report profit of $0.27 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues decreased to $173.823 million from $226.913 million a year ago. Analysts expected revenue of $170.06 million for the quarter.
System-wide same-store sales declined 4.5% for the fourth quarter. Same-store sales at partner drive-ins declined 5.3% in the quarter.
Fiscal 2009 net income was $49.442 million or $0.81 per share compared to $60.319 million or $0.97 per share prior year. Non-GAAP adjusted net income was $44.289 million or $0.72 per share compared to $58.770 million or $0.94 per share prior year.
Revenues decreased to $718.789 million from $804.713 million prior year. System-wide same-store sales declined 4.3%.
For comments and feedback: editorial@rttnews.com