LONDON (ShareCast) - Beauty products maker Avon (BSE: AVONCORP.BO - news) reported a $0.4m loss for the fourth quarter compared to the $230m profit generated a year earlier. The bottom line was affected by a $263m charge related to the purchase of Sipada Designs. Excluding one-time charges, Avon's adjusted fourth quarter earnings per share came in at $0.39 compared to the $0.51 expected by the consensus. Fourth quarter revenue fell 4% to $3bn compared to $3.2bn a year earlier and the $3.1bn expected by the market. The company reiterated its annual dividend of $0.92 per share for 2012. "While 2012 is a year of transition and we are not planning for margin recovery, our priorities are to improve top-line performance, cost management, and cash generation," said Andrea Jung, Avon's Chairman and Chief Executive Officer. S.C.
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