Share “Oklahoma business briefs, Jan. 4”

Oklahoma business briefs, Jan. 4

Oklahoma business briefs, Jan. 4
Published: January 4, 2013
Advertisement
/articleid/3742884/1/pictures/1920835">Photo - Tate  Morgan
Tate Morgan

EARNINGS

Sonic Corp.

Sonic Corp. reported a 22 percent increase in earnings per share and steady same-store sales growth for the first quarter of its fiscal year on Thursday. The drive-in restaurant company posted net income of $6.1 million, or 11 cents per share, for the first quarter of the year compared to earnings of $5.5 million, or 9 cents per share, for the same period a year ago. Sonic saw same-store sales grow by 3 percent companywide for the first quarter. The company is continuing its share-repurchase program, and bought up 3 percent of outstanding stock during the first quarter of the year, worth about $18 million. “We are confident our multilayered growth strategy, which incorporates same-store sales growth, leverage from higher sales, deployment of free cash flow, increasing royalty revenues and new drive-in development, will enable us to achieve double-digit earnings per share growth in the near and long term,” Sonic CEO Cliff Hudson said in a statement.

From Staff Reports


AROUND THE WEB

  1. 1
    Sale of buried Atari cartridges nets over $107,000
  2. 2
    Bartender finds $20 bill, wins $1 million California lottery with it
  3. 3
    2 Maryland law enforcement dogs die of heat exhaustion inside car
  4. 4
    Blumenthal: John Boehner is 'alcoholic,' 'lazy,' 'banal' | Washington Examiner
  5. 5
    Emails: Hillary kept close ties to Clinton Foundation while at State | Washington Examiner
+ show more

FEATURED JOBS



× Trending business Article