Any statements set forward in this conference call that are not historical facts or forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include but are not limited to such factors as unanticipated changes in the product demand, increased competition, failure to obtain or maintain intellectual property protection, fluctuation in the economy, results of research and development, failure to obtain regulatory approvals and other information detailed from time to time in obtaining pharmaceutical's finance and future filings recognized at United States Security Exchange Commission. The forward-looking statements contained in the conference call are made only for the date and Tianyin Pharmaceutical is under no obligation to revise or update these forward-looking statements.
Now, I'll turn the call over to Tianyin CEO, Dr. Jiang Guoqing his opening remark. [Foreign Language].
[Foreign Language]James Jiayuan Tong This is James Tong, let me translate for Dr. Jiang. Good morning, hello to everyone. We just had another successful quarter and demand has been hit their target and we worked very hard to meet our goals for the third quarter and also set a good foundation to complete and hit our financial guidance for 2010. And thanks to our shareholders' support and we're working very hard to create value for our shareholders and thanks. Okay. This is James Tong; I will be reviewing some of the financial highlights of third quarter fiscal year 2010. Our third quarter fiscal year 2010 revenue increased 60% year-over-year to $15.9 million, net income increased 63% to $2.9 million with earning per share basic $0.11 per share or a $0.09 per share diluted. The cash and cash equivalents were $23.3 million on March 31, 2010. Nine months 2010 cash flows were in operating and increased 95% year-over-year to $8.6 million.