(In U.S. dollars unless noted)
TORONTO, May 12 (Reuters) - Canadian toy maker Mega Brands Inc MB.TO, whose top executives are facing insider trading charges, posted a quarterly loss on Thursday that met market estimates, helped by the launch of new products.
The company posted a first-quarter loss of $9.3 million, or 3 cents a share, compared with earnings of $103 million, or $2.39 a share, a year ago. Mega recorded a one-time accounting gain of $144.3 million in a year earlier.
Net sales rose 4 percent to $51 million.
Analysts on average were looking for a loss of 3 cents a share on revenue of $50.8 million, according to Thomson Reuters I/B/E/S.
On Wednesday, Quebec-based regulator Autorite des Marches Financiers said it launched illegal insider trading proceedings against some top executives at Mega Brands, seeking C$6.5 million in claims from them. [ID:nN11288512] (Reporting by S. John Tilak. Editing by Robert MacMillan)