U.S. Q4 corporate profits down 4.3 pct vs 0.6 rise in Q3

WASHINGTON (AFX) - After-tax corporate profits fell 4.3 pct in the fourth quarter from the third quarter, the Commerce Department said.	    This is the largest decline in corporate profits since the first quarter of 1998.	    In the third quarter, corporate profits rose 0.6 pct from the second quarter, unrevised from the previous estimate.	    For all of 2000, corporate profits rose 13.1 pct, up from 10.4 pct in 1999. 	    Pre-tax operating profits fell 5.4 pct, compared with a 0.3 pct rise in the third quarter.	    For all of 2000, pre-tax profits rose 12.5 pct compared with an 8.5 pct rise in 1999.	    Net cash flow fell 2.4 pct in the fourth quarter, compared with a 2.0 pct rise in the third quarter.	    Corporate profits with inventory valuation and capital consumption adjustments fell 5.7 pct in the fourth quarter after a 0.7 pct rise in the third quarter. 	    This reflects the effects of payments by tobacco companies related to out-of-court settlements, which reduced fourth quarter profits by 14.2 bln usd, the department said.	    For all of 2000, profits from current production rose 10.5 pct compared with 5.0 pct rise in 1999. 

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