Xerox's profit fell due to restructuring charges in the fourth-quarter, the company said today, and confirmed its chief financial officer plans to retire next month.

CFO Lawrence Zimmerman (68) will be replaced by Luca Maestri, the 47-year-old current CFO of Nokia Siemens Networks, Xerox said today.

Its shares fell 2.2 percent in premarket trading.

Revenue for the office document management company rose 42 percent to $5.98 billion from $4.22 billion a year earlier. Analysts were expecting revenue of $5.978 billion for the quarter.

Fourth-quarter net income fell to $171 million, or 12 cents a share, from $180 million, or 20 cents a share, a year earlier.

Excluding costs for restructuring charges and acquisitions, the company's adjusted EPS was 29 cents a share, which narrowly beat analysts' average estimates of 28 cents.

The company forecast first-quarter earnings to be 16 cents to 18 cents a share. On an adjusted basis, Xerox said its EPS would be 20 cents to 22 cents a share in the first quarter, compared with the average Street estimate of 22 cents.

Shares fell to $11.15 in premarket trading. They closed at $11.40 yesterday on the New York Stock Exchange.

Reuters