According to the Sydney Morning Herald, the surplus is the company's first since 2001. It ran a deficit of A$414,000 in 2003.
The result seems to validate the company's 2002 decision not to renew the contract of high-profile music director Simone Young. At the time, CEO Adrian Collette said that the conductor's ambitions could not be sustained financially. In particular, according to news reports, Young and company officials could not agree on the scope of the 2004 season.
Young departed in 2003; Richard Hickox succeeded her in January of this year.