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SONIC REPORTS INCREASED FIRST QUARTER EARNINGS

 OKLAHOMA CITY, Jan. 10 /PRNewswire/ -- Sonic Corp. (NASDAQ-NMS: SONC), parent company of the Oklahoma City-based Sonic Drive-in franchisor and operator, announced earnings today for its first fiscal quarter of 1994 ended Nov. 30, 1993.
 The company reported that total revenues increased 17.7 percent to $23.1 million for the first fiscal quarter of 1994 from $19.6 million in the same period of fiscal 1993. Income from operations increased 18.6 percent to $4 million for the first fiscal quarter of 1994 from $3.4 million in the comparable period of fiscal 1993. Net income for the first fiscal quarter of 1994 increased 21.4 percent to $2,395,200, or $.30 per share, as compared with net income of $1,972,500, or $.25 per share, for the comparable period in fiscal 1993.
 System-wide sales, the sales of all Sonic restaurants in the chain, increased 13.4 percent to $182 million for the fiscal quarter ended Nov. 30, 1993, as compared with the comparable period in 1992. Company- owned comparable average sales per restaurant increased 1.6 percent for the fiscal quarter ended Nov. 30, 1993, over the comparable period in 1992. System-wide comparable average sales per restaurant increased 3.6 percent for the fiscal quarter ended Nov. 30, 1993, over the comparable period in 1992.
 Stephen Lynn, president and chief executive officer of the company, also announced that the chain had selected Barkley and Evergreen of Kansas City, Mo., as its new advertising agency. "We're very pleased to be working with such a professional firm and believe they will play a key role in driving additional new sales for us," Lynn said. On a related issue, Lynn stated that December comparable store sales of company-owned restaurants had improved to a level similar to the first quarter's system-wide comparable store sales.
 As of Nov. 30, 1993, the Sonic chain included 1,304 restaurants, 128 of which were owned by the company with the remainder being franchised. The restaurant chain reported a net increase in the number of restaurants in operation of 30 restaurants for the first fiscal quarter of 1994 and a net increase of 95 restaurants in operation over the last 12 months.
 During its fiscal quarter ending Feb. 28, 1994, the company expects a system-wide net increase of at least 20 Sonic Drive-ins, at least five of which will be company-owned.
 The company's common stock is traded through the NASDAQ National Market System under the symbol "SONC."
 -0- 1/10/94
 /CONTACT: Clifford Hudson of Sonic, 405-232-4334/
 (SONC)


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

JL-JM -- LA006 -- 0408 01/10/94 08:31 EST
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Publication:PR Newswire
Date:Jan 10, 1994
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