Sonic Corp. (SONC) Monday reported a rise in second-quarter net income to $3.57 million or $0.06 per share, from $1.67 million or $0.03 per share in the same quarter last year.
On an adjusted basis, the company posted a second quarter profit of $3.03 million, or $0.05 per share.
On average, fifteen analysts polled by Thomson Reuters expected the company to earn $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, total revenues for the quarter dropped to $111.14 million from $115.78 million in the prior-year quarter, while twelve analysts had a consensus revenue estimate of $112.72 million for the quarter.
For the quarter, system-wide same-store sales increased 1.3 percent, while company drive-in same-store sales increased 3.3 percent from the prior year.
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