Sonic Automotive, Inc. (NYSE: SAH) announced today that it was added to the Russell 3000 Index effective June 9, 2000. The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization.
B. Scott Smith, President and Chief Operating Officer of Sonic Automotive, Inc., was quoted as saying, “Sonic’s addition to the Russell 3000 Index, coupled with its recent addition to the 1999 Fortune 500, exemplifies the Company’s track record of continued growth.”
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About Sonic Automotive, Inc.
Sonic Automotive, Inc. is the second largest automotive retailer in the United States. Including pending acquisitions, the Company operates 169 franchises and 31 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. The Company has also experienced ten consecutive quarters of greater than 50% growth in earnings per share. Sonic Automotive can be reached on the Web at www.sonicautomotive.com .
