|
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
May 31, 2011
|
May 31, 2010
|
May 31, 2011
|
May 31, 2010
|
|
| Revenues: | Â | Â | Â | Â |
| Company-owned Drive-In sales | $ 113,745 | $ 108,752 | $ 297,454 | $ 298,963 |
| Franchise Drive-Ins: | Â | Â | Â | Â |
| Franchise royalties | 34,825 | 32,807 | 88,650 | 86,621 |
| Franchise fees | 385 | 854 | 1,271 | 1,936 |
| Lease revenue | 1,828 | 2,264 | 4,347 | 5,085 |
| Other | 1,315 | 1,368 | 3,045 | 3,250 |
| Total revenues | 152,098 | 146,045 | 394,767 | 395,855 |
| Costs and expenses: | Â | Â | Â | Â |
| Food and packaging | 31,996 | 30,031 | 83,559 | 82,393 |
| Payroll and other employee benefits | 40,169 | 39,427 | 108,068 | 105,140 |
| Other operating expenses, exclusive of depreciation and amortization included below | 23,549 | 23,820 | 66,765 | 69,541 |
| Total costs and expenses | 95,714 | 93,278 | 258,392 | 257,074 |
| Selling, general and administrative | 17,212 | 17,096 | 48,778 | 50,552 |
| Depreciation and amortization | 10,139 | 10,645 | 30,806 | 31,958 |
| Provision for impairment of long-lived assets | 49 | 188 | 313 | 188 |
| Total operating expenses | 123,114 | 121,207 | 338,289 | 339,772 |
| Other operating income (expense), net | (20) | (184) | 255 | (706) |
| Income from operations | 28,964 | 24,654 | 56,733 | 55,377 |
| Interest expense | 7,991 | 9,036 | 24,414 | 28,426 |
| Interest income | (161) | (251) | (513) | (744) |
| Net loss from early extinguishment of debt | 28,230 | 314 | 23,025 | 314 |
| Net interest expense | 36,060 | 9,099 | 46,926 | 27,996 |
| Income (loss) before income taxes | (7,096) | 15,555 | 9,807 | 27,381 |
| Provision (benefit) for income taxes | (2,742) | 3,450 | 2,195 | 6,538 |
| Net income (loss) - including noncontrolling interests | (4,354) | 12,105 | 7,612 | 20,843 |
| Net income - noncontrolling interests | 297 | 1,139 | 673 | 4,289 |
| Net income (loss) - attributable to Sonic Corp. | $ (4,651) | $ 10,966 | $ 6,939 | $ 16,554 |
| Basic income (loss) per share | $ (0.08) | $ 0.18 | $ 0.11 | $ 0.27 |
| Diluted income (loss) per share | $ (0.08) | $ 0.18 | $ 0.11 | $ 0.27 |