Sonic (SONC)

Sonic Drive-In sought to reassure investors today that it can service its debt. By re-franchising 209 units in the past year, the company added $80M to bring cash on hand to around $100M and the percentage of franchised outlets in the 3560-unit chain rose from 80% franchised to 87% franchised.
The presentation by CFO Stephen Vaughan and VP for Investor Relations Claudia San Pedro did little to affect investors, as the stock drifted lower throughout today on light volume.

Jan 14 · 7:11:00 AM · Source: Bluemaumau.com
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by Rich Pike