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SONIC REPORTS 36 PERCENT INCREASE IN EARNINGS FOR SECOND QUARTER OF 1993

 OKLAHOMA CITY, April 12 /PRNewswire/ -- Sonic Corp. (NASDAQ-NMS: SONC), parent company of the Oklahoma City-based Sonic Drive-In franchisor and operator, announced earnings today for its second fiscal quarter and six months ended Feb. 28, 1993.
 The company's total revenues increased 27 percent to $17.1 million for the second fiscal quarter of 1993 from $13.5 million in the same period of fiscal 1992. Net income for the second fiscal quarter of 1993 increased 36.2 percent to $1,560,800, or $.20 per share, compared with net income of $1,145,600, or $.15 per share, for the comparable period in 1992.
 Total revenues increased 28.1 percent to $36.7 million in the first two fiscal quarters of 1993, compared with $28.7 million for the comparable period in fiscal 1992. Net income for the first two fiscal quarters increased 32.2 percent to $3,533,300, or $.44 per share, compared with net income of $2,673,400, or $.34 per share for the comparable period in 1992.
 System-wide sales, the sales of all Sonic restaurants in the chain, increased 10.9 percent to $148 million for the second quarter ended Feb. 28, 1993, and 13.4 percent to $308 million for the six months ended Feb. 28, 1993, as compared with comparable periods in 1992. Company-owned comparable average sales per restaurant increased .3 percent for the fiscal quarter ended Feb. 28, 1993, and 3.2 percent for the six months ended Feb. 28, 1993, over the comparable periods in fiscal 1992. System-wide comparable average sales per restaurant increased 3.4 percent for the fiscal quarter ended Feb. 28, 1993, and 4.9 percent for the six months ended Feb. 28, 1993, over the comparable period in fiscal 1992.
 "Sonic's growth momentum has continued through the first two quarters of 1993, even though the chain experienced a harsher winter during its second fiscal quarter of 1993 than during the same period in 1992," reported C. Stephen Lynn, chief executive officer of Sonic Corp. "We added 20 additional restaurants to our company-owned restaurant group through the acquisition of franchised restaurants and construction of new restaurants during the first two quarters of 1993."
 As of Feb. 28, 1993, the Sonic chain included 1,219 restaurants, 111 of which the company owned, with the remainder being franchised. The restaurant chain reported a net increase of 10 restaurants in operation for the second quarter of 1993 and a net increase of 81 restaurants in operation during the


last 12 months.
 The company's common stock is traded through the NASDAQ National Market System under the symbol "SONC."
 -0- 4/12/93
 /CONTACT: Clifford Hudson of Sonic, 405-232-4334/
 (SONC)


CO: Sonic Corp. ST: Oklahoma IN: LEI SU: ERN

JL-MS -- LA005 -- 4567 04/12/93 07:01 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
Words:464
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