Sonic Posts Higher Q4 Profit

(RTTNews) - Sonic Corp. (SONC) reported net income for the fourth quarter of $18.8 million or $0.34 per share, compared to $12.2 million or $0.21 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $18.8 million or $0.34 per share, compared to $17.2 million or $0.30 per share in the prior year quarter.

Total revenue for the fourth quarter rose to $163.77 million from $158.80 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.34 per share on revenue of $161.04 million for the fourth quarter.

While the macroeconomic environment may impact results, the company expects its initiatives to drive 18% to 20% earnings per share growth in fiscal 2015, versus adjusted EPS in fiscal 2014.