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Xerox Corp. XRX +0.08% said its first-quarter earnings fell 5.1% as revenue from the company’s document-technology business continued to shrink.

The company trimmed its full-year adjusted earnings expectations, now forecasting $1.07 to $1.13 a share, from its prior view of $1.10 to $1.16 a share. For the second quarter, Xerox predicted adjusted earnings of 25 cents to 27 cents a share, while analysts estimated 28 cents a share.

While long known for its paper copiers and printers, Xerox has been working to transition into a company focused on document management, bill processing and IT outsourcing services. The transformation, however, has faced challenges, including falling sales of printers and copiers and the significant costs of expanding its services business.

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