Given the following code sequence

lnYear = 2005
lcRawData = fileloc + 'surveys\RawData' + transform(lnYear)
lcCompanyInfo = fileloc + 'surveys\companyinfo'

select * ;
	from (lcRawData) rd, ;
	(lcCompanyInfo) ci ;
	where rd.permid = ci.permid and ci.yearproduced = lnYear

The RawData table contains 98274 records. If the WHERE clause of the select creates an inner join (does it not?) how can the result set contain 98511 records?