Sheffield United have announced operating profits of £6.3m for the latest financial year.
Taking transfers into account, retained profits for the year ending June 2007 were £500,000, compared to a loss of just under £8m for the previous year.
The Championship side's turnover increased by 68% to £45.8m, but wages rose 67% on the year before.
"We are not solely dependent on Premier League football to progress, but it is a principle objective," the club said.
Launching the new figures, Blades chief executive Jason Rockett added: "I am pleased to be able to report a retained profit for the first time in many years."