Sonic 2010 Annual Report Download - page 3

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Financial Highlights
2010 2009 Change
(in thousands, except per share data and drive-in count)
Operations (for the fiscal year)
Total revenues $ 550,926 $ 706,281 -22%
Income from operations $ 70,881 $ 131,328 -46%
Net income per diluted share $ 0.34 $ 0.81 -58%
Net income per diluted share, adjusted 1$ 0.48 $ 0.72 -33%
Weighted average diluted shares outstanding 61,576 61,238 1%
System Information (for the fiscal year or at fiscal year's end)
Company-owned drive-ins 455 475 -4%
Franchise drive-ins 3,117 3,069 2%
System-wide drive-ins 23,572 3,544 1%
System-wide average drive-in sales 2$ 1,023 $ 1,093 -6%
Change in system-wide sales 2-5.7 % 0.7 %
Change in system-wide same-store sales 2, 3 -7.8 % -4.3 %
1Net income per diluted share, adjusted (a non-GAAP measure) excludes special items of $0.14, net, in 2010 associated
with refranchising program, impairment provisions, and stock option exchange program, and $0.09, net, in 2009
associated with refranchising program, impairment provisions, and debt purchase. We believe showing net income per
diluted share, adjusted to exclude these special items provides additional insight into the strength of our operations and
aids in the comparability of current- and prior-year results.
2System-wide information, which combines company-owned 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.
3Changes in same-store sales based on drive-ins open for at least 15 months.
1