Sonic Corp. (SONC) reported net income attributable to the company for the first quarter of $6.23 million or $0.10 per share, compared to $7.13 million or $0.12 per share in the year-ago quarter.
Revenues for the quarter decreased 26% to $136.50 million from $184.07 million in the prior-year quarter.
For the first fiscal quarter ended November 30, 2009, system-wide same-store sales declined 6.5% versus a decrease of 3.6% for the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to earn $0.13 per share, on revenues of $137.05 million for the quarter. Analysts estimates typically exclude special items.
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