Poseidon Concepts Corp. reported consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported revenue of $52.129 million compared to $11.327 million a year ago. EBITDA was $43.703 million compared to $8.838 million a year ago. Basic and diluted earnings per share were $0.55 compared to $0.16 a year ago. Net income from continuing operations was $29.639 million compared to $6.281 million a year ago. Diluted net income from continuing operations per share was $0.37 compared to $0.11 a year ago. The company revised earnings guidance for the year 2012. For the year, the company expects EBITDA of $210 million, an upward revision from the $170 million forecast in January 2012 and from original guidance of $130 million in September 2011 and growth in the tank fleet to 500 units by September 30, 2012.