diff --git a/VERSION b/VERSION
index 9ff9ab7..67f7f06 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.5.239
+1.5.240
diff --git a/tcltk/tclnetgen.c b/tcltk/tclnetgen.c
index 10c3355..aabcd27 100644
--- a/tcltk/tclnetgen.c
+++ b/tcltk/tclnetgen.c
@@ -2228,7 +2228,13 @@ _netcmp_compare(ClientData clientData,
        Fprintf(stdout, "\nCircuit 1 cell %s is a black box; will not flatten "
                         "Circuit 2\n", name1);
    }
-   else if (hascontents1 || hascontents2) {
+   else if (!hascontents1 && !hascontents2 && (tp1->flags & CELL_PLACEHOLDER)
+		&& (tp2->flags & CELL_PLACEHOLDER)) {
+       /* Two empty subcircuits, don't flatten anything */
+       Fprintf(stdout, "\nCircuit 1 cell %s and Circuit 2 cell %s are black"
+			" boxes.\n", name1, name2);
+   }
+   else {
        FlattenUnmatched(tp1, name1, 1, 0);
        FlattenUnmatched(tp2, name2, 1, 0);
        DescribeContents(name1, fnum1, name2, fnum2);
@@ -2241,10 +2247,6 @@ _netcmp_compare(ClientData clientData,
           DescribeContents(name1, fnum1, name2, fnum2);
        }
    }
-   else {	/* Two empty subcircuits */
-       Fprintf(stdout, "\nCircuit 1 cell %s and Circuit 2 cell %s are black"
-			" boxes.\n", name1, name2);
-   }
    CreateTwoLists(name1, fnum1, name2, fnum2, dolist);
 
    // Return the names of the two cells being compared, if doing "compare