03:41 PM EST - MEGA Brands Inc. : reported first-quarter net earnings of $98.21 million U.S. or $2.28 U.S. per share, compared to net loss of $25.92 million U.S. or $0.71 U.S. per share last year. The company noted that the first-quarter 2010 results include a gain on settlement of debt, reflecting the positive impact of the recapitalization transaction completed on March 30, 2010. Net sales grew to $49.15 million U.S. from $43.53 million U.S. in the same quarter a year earlier. MEGA Brands Inc.
shares T.MB are trading up $0.03 at $0.54.
