Everton have announced a post-tax loss of £4.1million despite registering a record turnover of £125.6m for the 2014-15 financial year.
The Toffees turnover increased from £120.5m the previous season to £125.6m, but reduced broadcast revenue, increased staff costs and transfer costs resulted in an overall loss in their financial results.
Everton chief executive Robert Elstone said: "Our financial performance, like so many Premier League clubs, was underpinned by the second year of a TV deal that beat all expectations, but also by increases in matchday and commercial revenues.
"We also continue to work hard managing and controlling our cost base and remain determined to ensure investment and spending is effective and delivers returns.
"Beyond the Premier League table, probably the most significant barometer of success is attendances and 2014-15 broke all recent records with our highest season ticket total for at least 10 years, the lowest season ticket non-renewal rate, 12 full houses and an average attendance in excess of 38,000 for the first time since 2004.
"As reported year-in, year-out, our revenues continue to be spent on sustaining a great academy, the best possible coaching, scouting, performance and medical teams and, of course, a first-team squad that can compete for a place in Europe. That strategy remains central to everything we do."
Source: tribalfootball.com