Everton chairman Bill Kenwright insists their careful approach to the transfer market has it's rewards in the club's financial figures.
The Toffees released figures covering the period from June 1 2009 to May 31 2010, revealing that £79.1million of turnover was generated, offset by operating costs of £79.6million.
This resulted in an operating loss before player trading of £0.5million.
Kenwright told the club's official website: "In modern football, the difference between success and failure can be wafer-thin.
"Yes, those clubs fortunate enough to boast a rich and generous benefactor undoubtedly have a clearly defined advantage but the outcome of crucial matches are quite often decided not by the size of the bank balance but more by skill, good fortune or the whim of a referee.
"From a financial perspective, the year was one which was underpinned by sensible business management which enabled us to continue to do everything within our collective power to help the manager in his concerted efforts to build a squad which would challenge the top four.
"Turnover for the year of £79.1million represented a decrease of £0.6million on the previous year, £79.7million, a figure which was boosted by our progress through to the FA Cup final.
"Irrespective of their standing within the various leagues, clubs will invariably be judged on two things - performance and level of support.
"Our average attendance for Premier League games at Goodison Park rose to almost 37,000 during the course of the last campaign, a statistic which delights me but does not surprise me simply because we are fortunate enough to boast the most loyal and knowledgeable crowd in British football."
