On Wednesday, Jan. 3, after the market close, drive-in restaurant chain Sonic (NASDAQ:SONC) released fiscal 2007 first-quarter earnings for the period ended Nov. 30, 2006. Here are the quick and dirty details for the quarter.
- Sales grew 9.4% to $174.8 million as same-store sales advanced 3.4%.
- Total diluted earnings grew 5.6% and came in below analyst projections.
- A debt refinancing hit quarterly earnings by a penny and is expected to affect second-quarter results, but allowed the company to repurchase 20% of its outstanding common shares.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change | |
|---|---|---|---|
|
Sales |
$174,790 |
$159,800 |
9.4% |
|
Net Profit |
$15,286 |
$16,430 |
(7.0%) |
|
EPS |
$0.19 |
$0.18 |
5.6% |
|
Diluted Shares |
79,489 |
90,521 |
(12.2%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* | |
|---|---|---|---|
|
Gross Margin |
78.0% |
77.4% |
0.6 |
|
Operating Margin |
17.4% |
17.3% |
0.1 |
|
Net Margin |
8.8% |
10.3% |
(1.5) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Current Assets |
$54,365 |
$35,596 |
52.7% |
|
Total Assets |
$652,456 |
$585,293 |
11.5% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Current Liabilities |
$73,213 |
$65,866 |
11.2% |
|
Obligations |
$578,615 |
$159,640 |
262.4% |
Learn the ways of the balance sheet.
Cash Flow Highlights
Fools will have to wait until the 10-Q filing for juicy cash flow details.
Find out why Fools always follow the money.
Comparable companies:
- McDonalds (NYSE:MCD)
- Burger King (NYSE:BKC)
- Wendy's (NYSE:WEN)
- Yum! Brands (NYSE:YUM)
Related Foolishness:
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Fool contributor Ryan Fuhrmann is long shares of Mickey D's but has no financial interest in any other company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.
