Earnings were up 6 percent from the first quarter, making the second quarter of 2000 Alcoa's eighth consecutive quarter of improved earnings,

The estimates are for earnings to be down 50 percent in the second quarter, 37 percent in the third quarter, and 12 percent in the fourth.

Looking to the fourth quarter, we expect to continue to benefit from recent acquisitions, our cost reduction program, and the seasonal strength of our packaging and consumer business, ... However, we also expect the softness to continue in the construction, transportation, building and distribution markets and see no relief from the higher energy prices.

Right now it's wonderful to celebrate good earnings growth in the first quarter and nice growth in the second quarter, but it's going to get a heck of a lot harder in the third and fourth quarters.

This is our eighth consecutive quarter of delivering on our promises to achieve a significant turnaround, improved profitability and a strategic refocusing of Motorola around wireless, broadband and the Internet.

It appears that operating earnings per share rose 6 percent to 7 percent in the second quarter, following a similar performance in the first.