Net income before tax for the nine months ended September 30, 2010 was $3,613,345 compared to $848,449 for the same period in 2009, an increase in pre-tax net income of $2,764,896, or approximately 326%. The increase in pre-tax net income was a result of the fact that we tightened control of our selling, general and administrative expenses during the period, and also employed more agents to promote our guarantee business which resulted in an increase in guarantee fee income from bank referrals.
Net income before tax for the three months ended September 30, 2010 was $1,613,223 compared to $659,331 for the same period in 2009, an increase in pre-tax income of $953,892, or approximately 145%. The increase in pre-tax net income was a result of the fact that we tightened control of our selling, general and administrative expenses during the period, and also employed more agents to promote our guarantee business which resulted in an increase in guarantee fee income from bank referrals.