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Beauty products maker Estee Lauder on Thursday said it reversed a year-ago loss in the fourth quarter, but its fiscal 2011 forecast fell short of expectations, sending its shares plunging in premarket trading. New York-based Estee Lauder ( EL – news – people ) reported fiscal fourth quarter net income of $23.9 million, or 12 cents per share, compared with a net loss of $17.9 million, or 9 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 29 cents per share.

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