Consolidated Statements of Income by Quarter |
The following table summarizes Sonic’s results of operations as presented in the accompanying Consolidated Statements of Income by quarter for the years ended December 31, 2014 and 2013:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
|
|
|
Second
|
|
|
Third
|
|
|
Fourth
|
|
|
|
|
|
Quarter
|
|
|
Quarter
|
|
|
Quarter
|
|
|
Quarter
|
|
|
|
|
|
(In thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues (1)
|
|
$
|
2,136,387
|
|
|
$
|
2,353,280
|
|
|
$
|
2,355,604
|
|
|
$
|
2,351,828
|
|
|
|
Gross profit (1)
|
|
$
|
329,000
|
|
|
$
|
346,947
|
|
|
$
|
341,489
|
|
|
$
|
348,464
|
|
|
|
Net income (loss) (2)
|
|
$
|
19,386
|
|
|
$
|
26,993
|
|
|
$
|
24,712
|
|
|
$
|
26,126
|
|
|
|
Earnings (loss) per common share - Basic (2) (3)
|
|
$
|
0.37
|
|
|
$
|
0.51
|
|
|
$
|
0.47
|
|
|
$
|
0.51
|
|
|
|
Earnings (loss) per common share - Diluted (2) (3)
|
|
$
|
0.36
|
|
|
$
|
0.51
|
|
|
$
|
0.47
|
|
|
$
|
0.50
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues (1)
|
|
$
|
2,083,166
|
|
|
$
|
2,202,436
|
|
|
$
|
2,242,197
|
|
|
$
|
2,315,369
|
|
|
|
Gross profit (1)
|
|
$
|
313,020
|
|
|
$
|
323,806
|
|
|
$
|
326,081
|
|
|
$
|
338,700
|
|
|
|
Net income (loss) (2)
|
|
$
|
21,291
|
|
|
$
|
8,916
|
|
|
$
|
23,327
|
|
|
$
|
28,084
|
|
|
|
Earnings (loss) per common share - Basic (2) (3)
|
|
$
|
0.40
|
|
|
$
|
0.17
|
|
|
$
|
0.44
|
|
|
$
|
0.53
|
|
|
|
Earnings (loss) per common share - Diluted (2) (3)
|
|
$
|
0.40
|
|
|
$
|
0.17
|
|
|
$
|
0.44
|
|
|
$
|
0.53
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Operations are subject to seasonal variations. The first quarter generally contributes less operating profits than the second,
|
|
|
|
third and fourth quarters. Parts and service demand remains more stable throughout the year. Amounts presented may differ from
|
|
|
|
amounts previously reported on Form 10-Q due to the classification of certain franchises in discontinued and continuing operations
|
|
|
|
in accordance with "Presentation of Financial Statements" in the ASC (see Note 2).
|
|
|
|
(1) Results are for continuing operations.
|
|
|
|
(2) Results include both continuing operations and discontinued operations.
|
|
|
|
(3) The sum of net income per common share for the quarters may not equal the full year amount due to weighted average
|
|
|
|
common shares being calculated on a quarterly versus annual basis.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|