Sonic, America's Drive-In: One of Forbes 200 Best Small Companies; Ranking Marks Sonic's Ninth Consecutive Year On the 200 Best Small Companies in America List.Business Editors OKLAHOMA CITY--(BUSINESS WIRE)--Oct. 22, 2002 Forbes magazine praises Sonic Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SONC SONC Special Olympics Northern California ) in its 200 Best Small Companies in America list, ranking the nation's largest drive-in chain restaurant at No. 47 - a significant jump from last year's rank at No. 122. One of only three companies profiled in the October 28, 2002 issue, Forbes provides a detailed report of Sonic, summarizing its history and success through the eyes of the company's top executive duo: Clifford Hudson, chief executive officer, and Pattye Moore, president. Sonic is one of only three companies recognized on the list for at least nine or more consecutive years. As reported by Forbes, for the past five years, Sonic Corp. has achieved 17 percent and 28 percent annual average sales and profit growth, respectively; and earned $39 million on $330 million in sales in 2001. "Forbes' requirements make repeat appearances on the 200 Best list difficult," said Hudson. "Our continued and long-standing progress in the rankings can be attributed to our crew members and partners who are dedicated to delivering our fresh, unique menu and customer service philosophies every day." Sonic's consistent growth was further documented in its recent release of the company's fiscal 2002 results. -- Earnings increased 22 percent to a record $1.13 per diluted share for the year; record diluted EPS of $0.38 for the quarter was 19 percent ahead of fiscal 2001 -- System-wide same-store sales increased 3 percent for the year - the sixteenth consecutive year of same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. growth for Sonic -- System-wide sales surpassed $2 billion for the first time ever in a fiscal year period - a doubling in system sales System sales is a business term used in the franchising industry. Franchisors provide supplies, marketing and administration services to franchisees in return for a part of the franchisees' revenues. Some franchisors also operate some outlets directly. in just five years -- Sonic opened 182 new drive-ins during the year, including 64 in the fourth quarter, or just slightly below the record pace of 191 set in fiscal 2001. To build its Best list, Forbes only considers publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. with 12-month sales of $5 million to $600 million, a stock price above $5 per share, a five-year average return on equity of at least 5 percent, a net profit margin of at least 5 percent, and its latest measuring tool, relative stock price strength among industry and market competitors. For more information about Forbes' Best list or to read the article in its entirety, visit http://www.forbes.com/free_forbes/2002/1028/246.html. About Sonic Sonic, which specializes in made-to-order fast food, is known for its specialty menu items and personal Carhop service. Popular menu items include Toaster See intranet toaster and Video Toaster. (jargon) toaster - 1. The archetypal really stupid application for an embedded microprocessor controller; often used in comments that imply that a scheme is inappropriate technology (but see elevator controller). Sandwiches (Chicken Club and Bacon Cheddar Burger on thick Texas Toast Texas Toast is a thicker variation of pre-sliced packaged bread of the 'Wonder Bread' variety[1]. The name is somewhat misleading as it is not toast when it is sold this way. ), Extra-Long Cheese Coneys (hot dogs with chili and cheese), hamburgers, fresh-made Onion Rings, Tater Tots Tater Tots, also known as "Tots", a registered trademark for a commercial form of hash browns, is a side-dish made from deep-fried, grated potatoes. Tater Tots are widely recognized for their crispiness, cylindrical shape and small size. and a variety of Frozen and Fountain Favorites(TM) such as Cream Pie A cream pie is a type of pie typically made of usually firmer versions of dessert-style puddings. It is a typically American dessert. The filling is usually a rich custard made with flour and/or cornflour, eggs and milk. Shakes and Cherry Limeades. Sonic started as a hamburger and root beer stand in 1953 in Shawnee, Okla., and has grown to more than 2,500 drive-ins in 30 states. Sonic is the nation's largest chain of drive-in restaurants and more than three-quarters of a million people eat at Sonic Drive-Ins every day. For more information about Sonic Corp. and its subsidiaries, visit Sonic on the Internet at www.sonicdrivein.com. |
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