Compaq Computer Corp is warning that as it continues to face parts supply shortages for its Deskpro 386s, 386 20e and 386/33 lines, this may effect its second quarter revenues: although Compaq president Michael Swavely would not offer any earnings projections, he did say that being supply-constrained will deter-mine revenue levels, adding that the company hopes to overcome shortages in the third quarter, so that it will be in a position to take advantage of what is usually a seasonally strong fourth quarter.