* EPS $2.28 vs previous loss $0.71
* Revenue rises 12.9 pct to $49.1 mln
(Adds details. In U.S. dollars)
TORONTO, May 14 (Reuters) - Mega Brands Inc MB.TO returned to a first-quarter profit on Friday as the Canadian toymaker benefited from a gain related to its recent recapitalization plan.
The Montreal-based company, known for toys such as Mega Bloks, Halo Wars and Thomas and Friends, earned $98.2 million, or $2.28 a share during the quarter, compared with a loss of $25.9 million, or 71 cents a share for the same time a year earlier.
The 2010 quarter included a gain related to the settlement of debt from a recapitalization plan completed in March.
The restructuring deal raised C$100 million through a stock sale and $121 million in a private placement of new capital.
Revenue increased 13 percent to $49.1 million compared with $43.5 million in the first quarter of 2009. ($1=$1.02 Canadian) (Reporting by Scott Anderson; Editing by Derek Caney)