Quintiles beat earnings estimates for the fourth quarter by a penny, the company reported Tuesday after markets closed.

Quintiles (Nasdaq: QTRN) earned 19 cents per share on net income of $22.6 million.

For the year, Quintiles said revenues hit $1.99 billion, up from $1.88 billion in 2001. However, net revenue dropped slightly to $1.59 billion, down from $1.62 billion.

Quintiles: www.quintiles.com