Sonic 2006 Annual Report Download - page 3

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2006 2005 Change
($ in thousands, except per share data)
Operations (for the year)
Total revenues $ 693,262 $ 623,066 11%
Income from operations 1$ 131,627 $ 117,449 12%
Net income 1$ 78,705 $ 70,443 12%
Net income per diluted share 1, 2 $ 0.88 $ 0.75 17%
Return on average stockholders' equity 120.2 % 19.4 %
Financial Position (at year's end)
Total assets $ 638,018 $ 563,316 13%
Stockholders' equity 1$391,693 $ 387,917 1%
System Information (for the year or at year's end)
Partner Drive-Ins 3623 574 9%
Franchise Drive-Ins 2,565 2,465 4%
System-wide drive-ins 43,188 3,039 5%
System-wide average drive-in sales 4$ 1,070 $ 1,023 5%
Change in system-wide sales 410.7 %12.4 %
Change in system-wide same-store sales 4, 5 4.5 %6.0 %
Financial Highlights
1 Prior-year results have been adjusted
to implement Statement of
Financial Accounting Standards No.
123R, Share-Based Payment, (SFAS
123R), on a modified retrospective
basis.
2 Adjusted for stock splits.
3 Partner Drive-Ins are those Sonic
Drive-Ins in which we own a majority
interest, typically at least 60%.
Most supervisors and managers of
Partner Drive-Ins own a minority
equity interest.
4 System-wide information, which
combines Partner Drive-In and
Franchise Drive-In information, is a
non-GAAP measure. We believe
system-wide information is useful
in analyzing the growth of the
Sonic brand as well as our revenues,
since franchisees pay royalties
based on a percentage of sales.
5 Changes in same-store sales based
on drive-ins open for at least 15
months.