Quintiles Transnational Corp. beat analyst forecasts in the second quarter with earnings of 17 cents per share, the company announced late Wednesday.

Forecasts were for 9 cents per share.

Citing $614 million in new business, Quintiles (Nasdaq: QTRN) said net revenue for the quarter was $390.3 million and net income of $20.6 million, For the same quarter last year, Quintiles reported $406.6 million in net revenue and $11.1 million in net revenue.

The company’s stock closed at $8.48 Wednesday, its low in the past year. In August of 2001 the stock traded at a high of $19.49.