So-So, Sonic: Fool by Numbers (SONC)

So-So, Sonic: Fool by Numbers

On June 21, drive-in fast-food chain Sonic (Nasdaq: SONC ) released fourth-quarter earnings for the period ended May 31.

Net profits are down, but per-share figures are up. The difference maker? A massive share buyback program.
While operational margins were stable enough, the net margin suffered from interest payments on a much higher debt load than last year.
Sonic's financial data comes in an unusual format. There's plenty of juicy, detailed information about in-house and franchise operations -- the average franchisee generated $34,000 more in sales than the average company-owned location -- but the balance statement is rudimentary and there's no cash flow information.

(Figures in millions, except per-share data)

Income Statement Highlights

	Q3 2007	Q3 2006	Change
Sales	$209.9	$186.5	12.6%
Net Profit	$20.6	$23.8	(13.4%)
EPS	$0.31	$0.27	14.8%
Diluted Shares	67.4	89.0	(24.3%)

Get back to basics with the income statement.

Margin Checkup

	Q3 2007	Q3 2006	Change*
	53.4%	53.5%	(0.1)
	20.6%	21%	(0.3)
Net	9.8%	12.8%	(2.9)

*Expressed in percentage points.

Margins are the earnings engine.

Balance Sheet Highlights

Assets & Liabilities	Q3 2007	Q3 2006	Change
Current Assets	$91.9	$42.5	116.1%
Current Liabilities	$92.7	$78.1	18.8%
Long-term Liabilities	$711.9	$168.2	323.2%

The balance sheet reflects the company's health. The company only gave us a condensed version this time, and we'll have to wait for the 10-K filing for the full details.

Cash Flow Highlights
Free cash flow is a Fool's best friend. Sonic didn't let us see our pal this time, though.

Related Foolishness:

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

At the time of publication, Anders Bylund had no position in any company mentioned. Fool rules are here.

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