sonic corp (SONC) Key Developments
Sonic Corp. Presents at 17th Annual ICR XChange 2015, Jan-12-2015 03:00 PM
Jan 12 15
Sonic Corp. Presents at 17th Annual ICR XChange 2015, Jan-12-2015 03:00 PM. Venue: JW Marriott Orlando Grande Lakes, Orlando, Florida, United States.
Sonic Corp. to Open 50 to 60 New Franchise in Fiscal Year 2015
Jan 6 15
Sonic Corp. announced that it expects 50 to 60 new franchise drive-in openings for fiscal year 2015.
Sonic Corp. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2014; Provides Earnings Guidance for the Fiscal Year 2015
Jan 6 15
Sonic Corp. announced unaudited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company reported total revenues of $139,856,000 compared to $126,652,000 a year ago. Income from operations was $22,538,000 compared to $18,359,000 a year ago. Interest loss was $102,000 compared to $117,000 a year ago. Income before income taxes was $16,359,000 compared to $12,093,000 a year ago. Net income was $10,085,000 compared to $8,208,000 a year ago. Diluted income per share was $0.18 compared to $0.14 a year ago. Adjusted non-GAAP net income was $10,085,000 compared to $7,724,000 a year ago. Adjusted non-GAAP diluted EPS was $0.18 compared to $0.13 a year ago. For the first fiscal quarter ended November 30, 2014, system same-store sales increased 8.5%, which was comprised of an 8.5% same-store sales increase at franchise drive-ins and an increase of 7.9% at company drive-ins.
The company expects its initiatives to drive earnings per share growth in fiscal 2015 at the high end or slightly above its long-term 14% to 20% earnings per share growth target, versus adjusted EPS in fiscal 2014. The outlook for fiscal 2015 anticipates the following elements: positive same-store sales in the low single digit range for the system; depreciation and amortization expense of $45.5 million to $46.5 million as a result of increased capital investment in fiscal 2014; net interest expense of $25 million to $25.5 million; an income tax rate of between 37.5% to 38.5%, excluding the retroactive reinstatement in December 2014 of certain tax credit programs for calendar year 2014; capital expenditures of $30 million to $40 million; free cash flow of $65 million to $75 million.
Sonic Drive-In Expands into Northeast US in Albany, Upstate New York
Dec 30 14
SONIC Drive-In announced on December 29, 2014, a new agreement for franchise development of eight new drive-ins in the Albany, New York area over the next seven years, with the first restaurant opening in Latham in spring of 2015. Within seven years, Fast Eats expects to open eight drive-in locations in the New York Capital District, including Albany, Latham, Schenectady, Troy, Saratoga Springs, Clifton Park, Amsterdam and the surrounding areas.
Sonic Corp. to Report Q1, 2015 Results on Jan 06, 2015
Dec 17 14
Sonic Corp. announced that they will report Q1, 2015 results at 5:00 PM, US Eastern Standard Time on Jan 06, 2015