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Sonic fiscal Q2 profit climbs 76.3% YOY

Sonic Corp. said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to 12 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS rose 85.2% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.7 million, a gain of 76.3% from $3.8 million in the prior-year period.

The normalized profit margin increased to 5.3% from 3.5% in the year-earlier period.

Total revenue grew 15.0% on an annual basis to $126.2 million from $109.7 million, and total operating expenses rose 12.2% year over year to $109.2 million from $97.4 million.

Reported net income increased 90.4% year over year to $7.7 million, or 14 cents per share, from $4.0 million, or 7 cents per share.