SONIC CORP

SONIC CORP

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Company Overview
Sonic Corp. is an American company engaged in the operation and franchising of Sonic Drive-Ins chain restaurants in the U.S. and Mexico. The company was founded in 1959, and is headquartered in Oklahoma City, Oklahoma, United States. It is publicly traded on the NASDAQ National Market under the trading symbol SONC.
The company has two operating subsidiaries: Sonic Industries Inc. and Sonic Restaurants Inc. Sonic Industries serves as the franchisor of the Sonic Drive-In chain, as well as the administrative services center for the company. Sonic Restaurants develops and operates the Partner Drive-Ins.
The company operates the largest chain of quick-service drive-ins in the U.S., with more than 3,100 locations in Texas and approximately 35 other mostly in southern states. It has approximately 3,188 Sonic Drive-Ins in operation, consisting of 623 Partner Drive-Ins and 2,565 Franchise Drive-Ins, principally in the southern portions of the U.S. The Partner Drive-Ins are operated by either a limited liability company or a general partnership. The Franchise Drive-Ins are owned and operated by franchisees. These restaurants sell such items as specialty soft drinks and frozen desserts, in addition to hamburgers, chili cheese hot dogs, onion rings, tater tots, breakfast burritos, wrap sandwiches, and frozen desserts.
Business Summary
Sonic Corp. operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States. Sonic Drive-Ins feature Sonic signature items, such as specialty drinks including cherry limeades and slushes, frozen desserts, made-to-order sandwiches and hamburgers, footlong quarter pound chili cheese coneys, hand-battered onion rings, tots, salads, and wraps. Sonic Drive-Ins also offer breakfast items that include sausage or bacon with egg and cheese Breakfast Toaster, or CroisSONIC breakfast sandwiches, and breakfast burritos. Sonic Drive-Ins serve the full menu all day. As of August 31, 2010, the Company had 3,572 Sonic Drive-Ins in operation from coast to coast, consisting of 455 Company-owned Drive-Ins and 3,117 Franchise Drive-Ins. Company-owned Drive-Ins are owned and operated by Sonic Restaurants, Inc. (SRI), a wholly owned subsidiary of the Company. During the fiscal year ended August 31, 2010, Sonic Corp. opened 85 Sonic Drive-Ins.
Description and history
Sonic Corp., incorporated in 1990, operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States. Sonic Drive-Ins feature Sonic signature items, such as specialty drinks including cherry limeades and slushes, frozen desserts, made-to-order sandwiches and hamburgers, footlong quarter pound chili cheese coneys, hand-battered onion rings, tots, salads, and wraps. Sonic Drive-Ins also offer breakfast items that include sausage or bacon with egg and cheese Breakfast Toaster, or CroisSONIC breakfast sandwiches, and breakfast burritos. Sonic Drive-Ins serve the full menu all day. As of August 31, 2010, the Company had 3,572 Sonic Drive-Ins in operation from coast to coast, consisting of 455 Company-owned Drive-Ins and 3,117 Franchise Drive-Ins. Company-owned Drive-Ins are owned and operated by Sonic Restaurants, Inc. (SRI), a wholly owned subsidiary of the Company.

During the fiscal year ended August 31, 2010 (fiscal 2010), Sonic Corp. opened 85 Sonic Drive-Ins, which consisted of five Company-owned Drive-Ins and 80 Franchise Drive-Ins. The typical Sonic Drive-In consists of a kitchen housed in a one-story building flanked by canopy-covered rows of 20 to 36 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board. In addition, most Sonic Drive-Ins incorporate a drive-thru service and patio seating area. As of August 31, 2010, the Company had 3,117 Franchise Drive-Ins in operation. Its franchisees opened 80 Franchise Drive-Ins during fiscal 2010.

Business Line
Engaged in the operation and franchising of Sonic Drive-Ins chain restaurants in the U.S. and Mexico
Subsidiary
AMERICA’S DRIVE-IN BRAND PROPERTIES
Advisor
ERNST & YOUNG LLP
IPO date
2/1991
US SIC Code
5812
Company Address
300, Johnny Bench Drive

City province or state postal code
73104, OKLAHOMA CITY, OK
Phone: +1 405 225 5000
Fax: +1 405 280 7568
Country address: UNITED STATES OF AMERICA
Website url: www.sonicdrivein.com