Document

0000868611-18-000041.txt : 20180911 0000868611-18-000041.hdr.sgml : 20180911 20180911145527 ACCESSION NUMBER: 0000868611-18-000041 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180911 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20180911 DATE AS OF CHANGE: 20180911 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SONIC CORP CENTRAL INDEX KEY: 0000868611 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 731371046 STATE OF INCORPORATION: DE FISCAL YEAR END: 0816 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18859 FILM NUMBER: 181064758 BUSINESS ADDRESS: STREET 1: 300 JOHNNY BENCH DRIVE CITY: OKLAHOMA CITY STATE: OK ZIP: 73104 BUSINESS PHONE: 4052255000 MAIL ADDRESS: STREET 1: 300 JOHNNY BENCH DRIVE CITY: OKLAHOMA CITY STATE: OK ZIP: 73104 8-K 1 fy2018q48k-preliminaryrele.htm 8-K Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

September 11, 2018

Date of Report (Date of earliest event reported)

SONIC CORP.

(Exact name of registrant as specified in its charter)



Delaware	0-18859	73-1371046
(State or other jurisdiction of	(Commission File Number)	(I.R.S. Employer Identification No.)
incorporation or organization)



300 Johnny Bench Drive		73104
Oklahoma City, Oklahoma		(Zip Code)
(Address of Principal Executive Offices)



	(405) 225-5000
	(Registrant’s telephone number, including area code)

Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:



[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On September 11, 2018, Sonic Corp. (the "Registrant") issued a press release announcing certain preliminary results for the fourth quarter of fiscal year 2018. The information in the press release attached hereto as Exhibit 99 is furnished pursuant to this Item 2.02.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.



Exhibit No.		Description
99		Press Release, dated September 11, 2018.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




	REGISTRANT:

	SONIC CORP.

Date: September 11, 2018	By: /s/ Corey R. Horsch
	Corey R. Horsch
	Vice President, Chief Financial Officer and Treasurer

EX-99 2 fy2018q4-preliminaryrelease.htm EXHIBIT 99 Exhibit



Contact:	Corey Horsch
	Vice President, Chief Financial Officer
	and Treasurer
	(405) 225-4800

SONIC REPORTS SOLID SAME-STORE SALES MOMENTUM

IN THE FOURTH FISCAL QUARTER OF 2018

OKLAHOMA CITY (September 11, 2018) — Sonic Corp. (NASDAQ: SONC), the nation’s largest chain of drive-in restaurants, today announced preliminary results for its fourth fiscal quarter ended August 31, 2018.

The company estimates that system-wide same-store sales for its fourth fiscal quarter increased approximately 2.6% as compared to the prior-year quarter. Estimated same-store sales performance for the quarter reflects an increase of approximately 2.5% at company drive-ins and an increase of approximately 2.6% at franchise drive-ins. Additionally, net income per diluted share is expected to be $0.50 to $0.51 and adjusted net income per diluted share is estimated to be $0.51 to $0.52 for the fourth fiscal quarter.

“Our recent same-store sales performance reflects a stronger trend, driven by Sonic’s enhanced marketing reach, refreshed advertising creative, strong new product contribution and relevant everyday value,” said Cliff Hudson, Sonic Corp. CEO. “Our strategy this summer—focused on winning incremental visits from our customers—resulted in an increase in traffic of approximately 2.5% as compared to last year. In addition, during the quarter, we rolled out mobile order ahead functionality to the entire system and passed the one million mark for order ahead users. We look forward to launching a national order ahead advertising campaign this fall to continue building on our traffic momentum. We are pleased with the acceleration we are achieving in key metrics, and remain confident that we are taking the right steps to deliver long-term growth and value creation.”

In fiscal year 2019, the company expects to continue increasing same-store sales, traffic and free cash flow as it progresses against its target of returning a cumulative $500 to $600 million in capital to shareholders from fiscal 2018 through fiscal 2021. During fiscal year 2018, the company repurchased 5.2 million shares of its common stock for $139.2 million, representing 12% of shares outstanding, and made aggregate dividend payments of $24 million.

Preliminary results remain subject to the completion of normal quarter-end accounting procedures and adjustments and are subject to change. Final results for the fourth fiscal quarter of 2018 as well as the company's outlook for fiscal year 2019 will be released on October 16, 2018.

About Sonic

SONIC, America's Drive-In is the nation's largest drive-in restaurant chain serving approximately 3 million customers every day. Ninety-five percent of SONIC's approximately 3,600 drive-in locations are owned and operated by local business men and women. For 65 years, SONIC has delighted guests with signature menu items, 1.3 million drink combinations and friendly service by iconic Carhops. Since the 2009 launch of SONIC's Limeades for Learning philanthropic campaign in partnership with DonorsChoose.org, SONIC has donated $10.7 million to public school teachers nationwide to fund essential learning materials and innovative teaching resources to inspire creativity and learning in their students. To learn more about Sonic Corp. (NASDAQ/NM: SONC), please visit sonicdrivein.com and please visit or follow us on Facebook and Twitter. To learn about SONIC's Limeades for Learning initiative, please visit LimeadesforLearning.com.

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements reflect management’s expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those expressed in, or underlying, these forward-looking statements are detailed in the company’s annual and quarterly report filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly release revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission.

SONC-F