Delta Air Lines on Thursday posted earnings for the final quarter of 2000 that were down 50 percent compared with the same quarter in 1999, and a 31.4 percent drop in profits for the year compared with 1999 — joining several companies with disappointing earnings reports this week.

        The company said that excluding charges, earnings per share were 60 cents for the quarter, compared with $1.22 for the same quarter in 1999.

        Taking into account charges such as a decline in the value of the company's stake in Priceline.com and higher jet fuel costs, yearly profits were $828 million, down from $1.2 billion in 1999.

        The Atlanta-based airline, the nation's third-largest carrier, said the main reasons for the decline were increased cancellations because of a lack of pilots requesting overtime and several strong storms in December. Delta and its pilots are negotiating a contract extention.

        Delta chief executive officer and chairman Leo Mullin on Thursday said the company also tried to boost the pay of all its nonunion employees (all but the unionized pilots) to stay competitive with the rest of the industry.

        Profit from operations slid to $79 million from $171 million, or $1.22, in the year-earlier quarter. Revenue rose 9.2 percent to $4.02 billion from $3.68 billion.

        For the full year, profit from operations fell to $897 million, or $6.81 a share, from $1 billion. The company repurchased stock between 1998 and last year.

        In other reports:

        • Multi-Color Corp.: The Cincinnati consumer label printer reported record operating income for the fiscal third quarter, although higher tax rates reduced net earnings.

        For the three months ended Dec. 31, Multi-Color said operating income increased 58 percent to $2.1 million, compared with $1.4 million a year ago.

        Revenues increased 27 percent to $16.3 million from $12.7 million a year ago.

        After provision for taxes, net income was $916,000, or 35 cents a share, versus $1.02 million, or 37 cents a share, a year ago.

        • PNC Financial Services Group Inc.: Double-digit fee income growth helped the parent of PNC Bank post record profits in the fourth quarter and last year.

        The Pittsburgh-based banking company earned $334 million, or $1.13 a share, up from $304 million, or $1.01 a share, in 1999's fourth quarter. For all of 2000, PNC earned $1.28 billion, or $4.31 a share, up from $1.20 billion, or $3.93 a share, two years ago.

        PNC said fee income rose 14 percent in the fourth quarter to $735 million, spurred by asset management and processing fees.

        PNC operates 47 branches in Cincinnati.

        • Huntington Bancshares Inc.: Higher expenses and a slowdown in its mortgage business caused the parent of Huntington Banks to post lower profits last year.

        The Columbus-based banking company earned $76.2 million, or 30 cents a share, vs. $107.3 million, or 42 cents a share, in the fourth quarter of 1999. During 2000, Huntington earned $328.4 million, or $1.32 a share, down from $422.1 million, or $1.65 a share, in 1999.

        The company said rising interest rates slightly reduced its net interest margin and increased its costs of funds. Huntington also was competing against a banner year of profits in 1999.

        Huntington operates 25 branches locally.

        • Bank One Corp.: Costs to cover bad loans and job cuts caused the parent of Bank One to post losses last year.

        The Chicago-based banking company had a fourth-quarter loss of $512 million, or 44 cents a share, vs. profits of $411 million, or 36 cents a share, in the same 1999 period. For all of last year, Bank One lost $511 million, or 45 cents a share, compared with earnings of $3.5 billion, or $2.95 a share, two years ago.

        Bank One operates 33 branches locally.

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