Although I'm a big Apple fan, I hate iPhoto. I have heard that different versions of iPhoto deal with raw files differently.
What version are you running and what camera is producing the raw files?
To take out the RAW file from iPhoto 'as is', hold the 'Option' key and then drag/ drop it to desktop or any other application.
By default, drag and drop from iPhoto on a RAW file will force iPhoto to export the RAW file to a JPEG file.
Trust this helps.
Hi. Because the forum you originally posted in is for beginners trying to learn the basics of Photoshop, I'm moving your question to the Adobe Camera Raw forum for specialized attention to your situation.