Sonic Corporation (NASDAQ:SONC) lost some of the major gains made in the previous day as it finished the last trading session with a loss of 2.86%. The volume of the day surged to 2.4 million against the daily average of 1.3 million, which was not a very comforting factor for the bulls. The stock has been in the grip of bears in the long term and the area of rejection takes greater significance from that. A major part of the bear market has been contained in a perfect channel and the price rejection exactly from the upper boundary can push the price very deep.
Continuing its good performance, Sonic Corporation (NASDAQ:SONC) announced EPS for the fiscal fourth quarter and year ending August 2015. As per the reports, the company reported 47% hike in earnings per share for the fiscal fourth quarter. The overall EPS hike in fiscal year accounted for 41%, a lot more than what most of the experts thought.
Key Highlights of Fiscal 2015
Company’s net income per diluted share was recorded as much as $1.20 compared to net income per diluted share of $0.85 in the previous fiscal. If certain adjustments are excluded from the net income, the per diluted share figure goes up to $1.10, 31% higher than last year’s $0.84.
The same store sales of the company rose 7.3% due to franchise and company drive-ins. In total, the company drive-in margins enhanced by 90 basis points. Sonic opened 41 new drive-ins and rebuilt 30 drive-ins during the same period.
Key Highlights of Fiscal 4Q2015
Company’s net income per diluted share accounted for $0.50 as compared to $0.34 during the same period in 2014. It opened 18 new drive-ins in the fourth quarter. The drive-in margin increased by 100 basis points.
The entire senior management team of the company’s excited to report such amazing numbers and hopes that things will improve in the future. According to Clifford Hudson, Chief Executive Officer, Sonic Corp., fiscal 2015 was a great year for company’s franchisees and all the investors. It was the continuous fifth occasion when Sonic Corporation managed to report positive results. With the help of these results, Sonic Corp managed to report an unbelievable 31% rise in 2015 EPS.
Company’s disciplined approach towards capital allocation led to such financial performance, he further added. Sonic Corporation (NASDAQ:SONC) has always believed in keeping its shareholders happy. It has returned over $289 million to shareholders over the last four years, and will continue to do so in the future as well.
