1.   Although Compaq had flat earnings in the first quarter, neither it nor Dell are in distress.

2.   Analysts had forecast flat earnings.

3.   Another Silicon Valley stalwart, Intel, reported nearly flat earnings amid a slump by major personal computer makers that buy Intel chips.

4.   BT previously expected two years of flat earnings at MCI, followed by double digit earnings growth, he said.

5.   But flat earnings are fiscally incorrect.

6.   Company officials say they expected flat earnings this year, with revenues growing only slightly.

7.   For the current quarter, he predicted flat earnings and new license sales that would decline less sharply than during the last quarter.

8.   He downplayed the importance of the outlook for flat earnings.

9.   Most analysts had expected flat earnings.

10.   Opel is currently suffering from flat earnings and declining sales, even as rivals Volkswagen and Daimler-Benz AG are enjoying double-digit sales and profit growth.