Sonic Corp. Presents at Barclays Retail and Consumer Discretionary Conference, Apr-30-2013 04:00 PM. Venue: Barclays Office, 745 Seventh Avenue, New York, New York, United States. Speakers: Claudia San Pedro, Vice President of Investor Relations & Communications and Treasurer.

Sonic Corp. has appointed Clifford Hudson to reassume the position of President, in addition to his continuing service as Chairman of the Board and Chief Executive Officer. Mr. Hudson’s appointment followed Scott McLain’s resignation from his position as President, effective March 31, 2013. No changes were made to Mr. Hudson’s compensation in connection with his appointment as President.

Sonic Corp. announced unaudited earnings results for the second quarter and six months ended February 28, 2013. For the quarter, the company's revenues were $111.1 million compared with $115.1 million a year ago. Income from operations was $12.0 million against $10.5 million a year ago. Income before income taxes was $4.2 million compared with $2.8 million a year ago. Net income was $3.6 million or $0.06 per diluted share compared with $1.7 million or $0.03 per diluted share a year ago. Non-GAAP net income was $3.0 million or $0.05 per diluted share compared with $1.7 million or $0.03 per diluted share a year ago. For the six months, the company's revenues were $237.1 million compared with $243.4 million a year ago. Income from operations was $29.2 million against $27.3 million a year ago. Income before income taxes was $13.9 million compared with $11.6 million a year ago. Net income was $9.7 million or $0.17 per diluted share compared with $7.2 million or $0.12 per diluted share a year ago. Non-GAAP net income was $9.3 million or $0.16 per diluted share compared with $7.2 million or $0.12 per diluted share a year ago. Company drive-in sales for the first six months of fiscal 2013 decreased compared to the same period prior year primarily as a result of the refranchising of 34 company drive-ins during the second fiscal quarter of 2012 partially offset by an increase in same-store sales. For the year 2013, the company expects positive same-store sales in the low single digit range; depreciation and amortization of $10 to $10.5 million for each of the third and fourth quarters, respectively; net interest expense of approximately $28 to $28.5 million excluding the impact of the debt origination cost write-off from the $20 million early extinguishment of debt; an income tax rate of between 37% and 38% for each of the third and fourth fiscal quarters, respectively; capital expenditures of $30 to $35 million which includes partial implementation of the point-of-sale system in company drive-ins and the supply chain management system; and free cash flow of $45 to $50 million for fiscal 2013.