Xerox Corp. (XRX: chart), copier and printer maker, reported a 24% decrease in fourth-quarter profit, but said profit on an adjusted basisincreased. The fourth-quarter net income dropped to $214 million, or 22 cents per share, compared with $282 million, or 28 cents per share. Stripping out 16 cents per share in restructuring charges, adjusted earnings rose 19% to 38 cents a share, while revenue rose 3% to $4.4 billion from $4.25 billion in the previous year.

Tellabs (TLAB: chart), telecom networking company, said that its fourth-quarter earnings fell to $29 million, or 7 cents per share, compared with $92 million, or 20 cents per share, in the same period a year ago, hurt by consolidation among telecommunications carriers. Excluding special charges, the company would have earned 10 cents per share in the quarter, down from 22 cents. Revenue fell 13% to $455 million versus $521 million a year earlier.

D.R. Horton Inc. (DHI: chart), homebuilder by deliveries, said that its first-quarter earnings fell to $109.7 million, or 35 cents per share compared with $310.1 million, or 98 cents per share, a year earlier. The results for the quarter include an 8 cents per share charge for cost of sales, inventory impairments and a 7 cents per share charge for write-off of deposits and land pre-acquisition costs. Revenue declined to $2.76 billion versus last year''s $2.79 billion.

Coach Inc. (COH: chart), engages in the design and marketing of handbags and accessories, said that its fiscal second-quarter net income increased to $227.5 million, or 61 cents per share, compared with $174.2 million, or 45 cents per share, in the year-ago period. Revenue climbed to $836.4 million versus $650.3 million in the same quarter a year earlier.

Rayonier (RYN: chart), forest products maker, said that its fourth-quarter profit declined 2% to $55.3 million, or 71 cents per share, compared with a profit of $56.4 million, or 73 cents per share, in the prior year. The company''s profit from operations in the latest three months was 64 cents per share. Revenue climbed to $328.5 million versus $315.9 million in the same period last year.

Johnson & Johnson (JNJ: chart), health care company, said fourth-quarter net income increased to $2.17 billion, or 74 cents per share, compared with $2.1 billion, or 70 cents per share in the year-ago quarter. Sales to customers jumped to $13.68 billion from $12.61 billion a year earlier.

EMC Corp. (EMC: chart), information-management vendor, said that its fourth-quarter earnings increased to $389 million, or 18 cents per share compared with $148 million, or 6 cents per share, in the same period a year ago. Revenue increased by 19% to $3.215 billion in the quarter versus $2.71 billion in the same quarter a year earlier.

United Technologies (UTX: chart), makes air conditioners, elevators and aircraft engines, said that its fourth-quarter earnings increased to $865 million, or 87 cents per share, compared with a year-ago profit of $626 million, or 62 cents per share. The latest quarter includes restructuring costs of $82 million and a boost of 2 cents per share from foreign currency translation while year-ago results reflect a loss of 9 cents per share from a change in accounting principle. Revenue climbed 14% to $12.79 billion versus $11.26 billion in the same period a year earlier.