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Financial Summary
The financial statements below show the results from the fiscal years ending September 30, 1999, and 1998.

•Revenue from research operations of $206.6 million for fiscal year 1999 exceeded fiscal year 1998 revenue by $38.7 million, an increase of 23 percent.
•Net income of $8.4 million for fiscal year 1999 was 51 percent more than in fiscal year 1998.
•Total Institute capital at the end of fiscal year 1999 was $75.4 million, a 1-year increase of more than $8 million.

RTI also received $217 million of new funding for research projects in fiscal year 1999, an increase of 22 percent compared with fiscal year 1998.

Income Statement (in thousands of dollars)
1999
1998
Horizontal rule
Revenue from research contracts
$206,590
$167,913
Direct and indirect labor
(100,056)
(87,095)
Other direct costs
(77,899)
(56,800)

Other variable costs
(10,341)
(9,307)

Fixed costs
(10,003)
(9,639)

Net revenue from operations
8,291
5,072

Other income (net of interest expense)

102
472

Net revenue
$8,393
_______
$5,544
_______
Balance Sheet (in thousands of dollars)    

Horizontal rule

Assets

    

Current assets
$50,920
$39,515

Property and equipment
104,289
93,512

Accumulated depreciation
(49,393)
(44,625)

Other noncurrent assets
2,410
2,229

Total assets
$108,226
$90,631

Liabilities and Institute Capital

    

Current Liabilities
$32,872
$22,045

Long-term notes payable
0
1,625

Total liabilities
32,872
23,670

Contributed capital (unrestricted)
4,879
4,879

Contributed capital (restricted)
1,950
1,726

Accumulated net revenue invested
in research operations
68,525
60,356

Total Institute capital
75,354
66,961

Total liabilities and Institute capital

$108,226
_________
$90,631
________