Sonic Foresees '04 Boom Via Breakfast Daypart, New Units
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Oklahoma City-Sonic Corp. believes its 2,706-unit Sonic Drive-In chain can produce 15 percent to 16 percent higher earnings per share in newly begun fiscal 2004 from higher sales, new units, franchise royalty growth and share repurchases.
The company, whose income from operations rose 7.5 percent on a 12.6-percent increase in revenues for its August-ended fourth quarter, also expects to continue to benefit from breakfast, as the recently completed rollout takes hold in developing markets. -Nation's Restaurant News