Sonic Automotive, Inc. Named to FORTUNE 500 List
10 April 2000
Sonic Automotive, Inc. Named to FORTUNE 500 ListCHARLOTTE, N.C., April 10 Sonic Automotive, Inc. , announced today that it has been added to the prestigious FORTUNE 500 list which highlights the largest companies in America. FORTUNE released the list last week in its April 2000 issue. The rankings are based on fiscal year 1999 revenues. The ranking marks Sonic Automotive's first appearance on the list as the 460th largest company in America. O. Bruton Smith, Chairman and Chief Executive Officer of Sonic Automotive, Inc. stated, "The FORTUNE 500 listing is one of the most prestigious forms of recognition today. Due to the expertise, initiative and hard work of our employees, Sonic joined this exclusive ranking. The efforts and dedication demonstrated by our employees have contributed to the Company's growth and success in the automotive retailing industry." Sonic Automotive, Inc. is the second largest automotive retailer in the United States operating 172 franchises and 30 collision repair centers in Alabama, California, Florida, Georgia, Maryland, Nevada, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Sonic had revenues of $3.4 billion in 1999, an increase of 109% over 1998. The revenue run rate is estimated at over $6 billion for 2000. Sonic has experienced nine consecutive quarters of greater than 50% growth in earnings per share. Sonic Automotive can be reached on the Web at http://www.sonicautomotive.com . Included herein are forward-looking statements, including statements with respect to anticipated revenue growth. There are many factors that affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation economic conditions, risks associated with acquisitions and the risk factors set forth from time to time in the Company's recent filings with the Securities and Exchange Commission.