| Consolidated Statements of Income by quarter |
The following table summarizes Sonic’s results of operations as
presented in the Consolidated Statements of Income by quarter for the years ended December 31, 2012 and 2011:
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
| |
|
(In thousands, except per share data) |
|
|
Year Ended December 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues(1)
|
|
$ |
1,927,066 |
|
|
$ |
2,121,946 |
|
|
$ |
2,127,721 |
|
|
$ |
2,188,735 |
|
|
Gross profit(1)
|
|
$ |
303,754 |
|
|
$ |
312,852 |
|
|
$ |
304,428 |
|
|
$ |
314,119 |
|
|
Net income (loss)(2)
|
|
$ |
20,498 |
|
|
$ |
28,179 |
|
|
$ |
10,042 |
|
|
$ |
30,382 |
|
|
Earnings (loss) per common share — Basic(2)(3)
|
|
$ |
0.39 |
|
|
$ |
0.53 |
|
|
$ |
0.18 |
|
|
$ |
0.55 |
|
|
Earnings (loss) per common share — Diluted(2)(3)
|
|
$ |
0.35 |
|
|
$ |
0.47 |
|
|
$ |
0.18 |
|
|
$ |
0.55 |
|
|
Year Ended December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues(1)
|
|
$ |
1,758,377 |
|
|
$ |
1,879,080 |
|
|
$ |
1,899,903 |
|
|
$ |
1,983,446 |
|
|
Gross profit(1)
|
|
$ |
278,357 |
|
|
$ |
296,657 |
|
|
$ |
289,903 |
|
|
$ |
293,694 |
|
|
Net income (loss)(2)
|
|
$ |
14,964 |
|
|
$ |
21,351 |
|
|
$ |
19,401 |
|
|
$ |
20,538 |
|
|
Earnings (loss) per common share — Basic(2)(3)
|
|
$ |
0.28 |
|
|
$ |
0.40 |
|
|
$ |
0.37 |
|
|
$ |
0.39 |
|
|
Earnings (loss) per common share — Diluted(2)(3)
|
|
$ |
0.26 |
|
|
$ |
0.35 |
|
|
$ |
0.33 |
|
|
$ |
0.35 |
|
| 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. |
|