Exhibit 99.1

MAD CATZ REPORTS FISCAL 2012 FOURTH QUARTER NET SALES OF $29 MILLION AND DILUTED EARNINGS PER SHARE OF $0.01

- Full-Year Net Revenue of $118 Million and Loss per Share of $0.03 -

San Diego, CA – June 13, 2012 – Mad Catz Interactive, Inc. (“Mad Catz” or “the Company”) (NYSE MKT/TSX: MCZ), today announced financial results for the fiscal fourth quarter and year ended March 31, 2012.

For the fiscal year ended March 31, 2012, the Company generated net sales of $117.6 million, a decline of 36% from record net sales of $184.0 million in fiscal 2011. Gross profit for fiscal 2012 declined 41% to $31.5 million, from $53.4 million in the prior fiscal year, while gross profit margin declined to 27%, compared to 29% in fiscal 2011. Total operating expenses in fiscal 2012 were $35.4 million, up 2% from $34.6 million in the prior year, leading to an operating loss of $3.9 million, compared to operating income of $18.8 million a year ago. Foreign exchange loss was $0.6 million, compared to a gain of $1.2 million in fiscal 2011. Reflecting an income tax benefit of $1.3 million, the Company recorded a net loss of $1.6 million, or a loss of $0.03 per share in the fiscal year ended March 31, 2012, compared to net income of $10.9 million, or $0.18 per diluted share in the prior fiscal year.

Adjusted EBITDA, a non-GAAP measure (defined as earnings before interest, taxes, depreciation and amortization and change in fair value of warrant liability), was a loss of $1.1 million in fiscal 2012, compared to a gain of $23.0 million in fiscal 2011. Adjusted net loss and adjusted loss per share, which exclude the impact of amortization of intangibles, stock-based compensation, change in warrant liability and goodwill impairment (if any), were $2.7 million and $0.04, respectively, in fiscal 2012, versus adjusted net income and adjusted net income (loss) per share of $12.4 million and $0.20, respectively, in fiscal 2011. A reconciliation of Adjusted EBITDA, adjusted net income (loss) and adjusted diluted earnings (loss) per share to the Company’s net income (loss) and net income loss per share is included in the financial tables accompanying this release.

For the fiscal fourth quarter ended March 31, 2012, Mad Catz reported net sales of $29.2 million, down 13% from $33.7 million in the fiscal 2011 fourth quarter. Gross profit for the March 2012 quarter declined 15% to $8.9 million from $10.5 million in the same quarter of the prior year while gross profit margin remained flat at 31%. Total operating expenses in the fiscal 2012 fourth quarter fell 4% to $8.5 million and the Company recorded operating income of $0.4 million, representing a decline of 76% from the $1.7 million generated in the comparable prior

period. Foreign exchange loss was $0.2 million compared to a gain of $1.2 million in the fiscal 2011 fourth quarter. Reflecting an income tax benefit of $1.0 million, the Company reported net income of $0.8 million for the quarter ended March 31, 2012, or $0.01 per diluted share, versus net income of $1.5 million, or $0.03 per diluted share in the prior year fiscal fourth quarter.

Adjusted EBITDA was $1.1 million in the fourth quarter of fiscal 2012 compared to Adjusted EBITDA of $3.6 million in the prior year quarter. Adjusted net income and adjusted diluted earnings per share of $1.3 million and $0.02, respectively, in the fiscal fourth quarter of 2012 represented a reduction from adjusted net income and adjusted diluted earnings per share of $1.8 million and $0.03, respectively, in the same period a year ago.

Summary of Fiscal 2012 and Fourth Quarter Key Metrics:

Highlights of New Products Shipped in Q4 of Fiscal 2012 and Subsequent to the Fiscal Year-End:

Highlights of Upcoming Product Launches:

Key Developments in Q4 of Fiscal 2012 and Subsequent to the Fiscal Year-End:

Commenting on the results, Darren Richardson, President and Chief Executive Officer of Mad Catz, said, “Fiscal 2012 full year results largely reflect the difficult year-ago comparison which benefited from sales of products related to specific video games and revenue from a third party distribution agreement, which has since been discontinued. We also experienced delays in launching key products for the 2011 holiday season and were impacted by the overall economy and fundamental changes in the video game industry, highlighted by the transition of Nintendo’s Wii console and the move by many casual gamers to smartphones and tablets. Thus, while we are not satisfied with these results, we believe a simple comparison between fiscal 2012 and 2011 is not a fully accurate indicator of the Company’s direction and prospects.

“Three years ago, we made a strategic decision to shift our focus towards high-value products built for passionate, hard core consumers. This shift has not happened overnight and is still on-going. Initial success was evident in growing sales of our high-end Saitek flight products and, more recently, is demonstrated by our widely acclaimed Cyborg PC and Mac products as well as our Tritton premium audio products. Each of these three brands generated sales growth in fiscal 2012. In particular, the sales of Tritton products grew 48% to $37 million in net sales and the sales of Cyborg products grew 40% to $19 million in net sales.

“We also believe these premium products have much longer product life spans and offer the best path forward as the video game industry reaches another inflection point with many casual gamers moving to tablet and smartphone gaming, leaving hard core gamers who demand the best. We realize and understand that more sales of these key products are needed and we are committed to increasing our sales and marketing efforts to expand awareness of these products, while keeping a sharp eye on operating expenses.

“In addition to our focus on creating aspirational products over the past few years, we have also expanded our geographic footprint as we continue to build a worldwide sales and marketing team. As games increasingly cross geographic borders and the Internet allows worldwide on-line competition, the Company is committed to position itself as a leading provider of products that optimize the passionate video gamer’s performance on a global basis.

“We’re starting to realize the benefits of our investment in an expanded geographic footprint in the Asia Pacific Region. Sales to Other Countries accounted for 2% of net sales in fiscal 2011, 5% of sales in fiscal 2012, and 9% of sales in the fourth quarter of fiscal 2012. We were also pleased to see European sales overcome considerable market headwinds and a difficult comparison to return to double digit growth in the fiscal fourth quarter.

“In fiscal 2011, we benefited from discrete opportunities to partner with premium game titles. We will continue to look for such opportunities and pursue them when they make financial sense. However, we believe that the long-term growth and financial health of the Company depends on creating ‘must have’ products for passionate consumers that do not rely on outside forces for their success.”

“This quarter we’re seeing strong sales to date and are expecting all territories to return to growth in the first quarter of fiscal 2013. We are also excited about our pipeline of new products for the holiday season with some key product releases, including the highly anticipated Warhead headset, which we expect to begin mass production in the next few weeks and to make a positive contribution to fiscal 2013 second quarter sales. We are optimistic that the early launch of these key new products will contribute to our return to growth for fiscal 2013.”

Mr. Richardson concluded, “Looking ahead, we have a range of exciting initiatives that should benefit fiscal 2013 and beyond. Our line of audio products is going into wide distribution in the United States and is selling well in other parts of the world. We intend to increase marketing and awareness efforts for our universally acclaimed R.A.T. PC and Mac products and plan to further fill out the PC and Mac product range. We intend to continue to carefully select targeted software opportunities that pose manageable downside risk by complementing our hardware initiatives. We are also committed to supporting the professional gaming community and developing products that live up to their exacting demands.”

The Company will host a conference call and simultaneous webcast on June 13, 2012, at 5:00 p.m. ET, which can be accessed by dialing (212) 231-2910. Following its completion, a replay of the call can be accessed for 30 days at the Company’s Web site (www.madcatz.com, select “Investors”) or for 7 days via telephone at (800) 633-8284 (reservation #21595689) or, for International callers, at (402) 977-9140.

About Mad Catz

Mad Catz Interactive, Inc. (NYSE MKT/TSX: MCZ) is a global provider of innovative interactive entertainment products marketed under its Mad Catz^® (gaming), Tritton^® (audio), and Saitek^® (simulation) brands. Mad Catz also develops flight simulation software through its internal ThunderHawk Studios™; operates flight simulation centers under its Saitek brand; publishes games under its Mad Catz brand; and distributes games and videogame products for third parties. Mad Catz distributes its products through most leading retailers offering interactive entertainment products and has offices in North America, Europe and Asia. For additional information please go to www.madcatz.com.

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Safe Harbor

This press release contains forward-looking statements about the Company’s business prospects that involve substantial risks and uncertainties. The Company assumes no obligation to update the forward-looking statements contained in this press release as a result of new information or future events or developments. You can identify these statements by the fact that they use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “should,” “plan,” “goal,” “believe,” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: the ability to maintain or renew the Company’s licenses; competitive developments affecting the Company’s current products; first party price reductions; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; or a downturn in the market or industry. A further list and description of these risks, uncertainties and other matters can be found in the Company’s reports filed with the Securities and Exchange Commission and the Canadian Securities Administrators.

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—TABLES FOLLOW—

MAD CATZ INTERACTIVE, INC.

Consolidated Statements of Operations

(unaudited, in thousands of US$, except share and per share data)

MAD CATZ INTERACTIVE, INC.

Consolidated Balance Sheets

(unaudited in thousands of US$)

Geographical Sales Data

The Company’s net sales were generated in the following geographic regions:

MAD CATZ INTERACTIVE, INC.

Supplementary Data

(unaudited, in thousands of US$)

Adjusted Net Income (Loss) Reconciliation (non GAAP)

*Adjusted net income and adjusted diluted earnings per share are non-GAAP financial measures and are not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP. Mad Catz believes that certain non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of the Company’s core business, operating results or future outlook. Mad Catz’ management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing the Company’s operating results, as well as when planning, forecasting and analyzing future periods. These non-GAAP measures, specifically those that adjust for stock-based compensation and amortization of intangibles, also facilitate comparisons of the Company’s performance to prior periods.

EBITDA and Adjusted EBITDA Reconciliation (non GAAP)

EBITDA, a non-GAAP financial measure, represents net income (loss) before interest, taxes, depreciation and amortization. To address the Warrants issued in the first quarter of fiscal 2012 and the resulting gain/loss on the change in the related warrant liability, we have excluded this non-operating, non-cash charge and defined the result as “Adjusted EBITDA”. We believe this to be a more meaningful measurement of performance than the previously calculated Adjusted EBITDA. Adjusted EBITDA is not intended to represent cash flows for the period, nor is it being presented as an alternative to operating income or net income as an indicator of operating performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with accounting principles generally accepted in the United States. As defined, Adjusted EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the method of calculation. We believe, however, that in addition to the operating performance measures found in our financial statements, Adjusted EBITDA is a useful financial performance measurement for assessing our Company’s operating performance. Our management uses Adjusted EBITDA as a measurement of operating performance in comparing our performance on a consistent basis over prior periods, as it removes from operating results the impact of our capital structure, including the interest expense resulting from our outstanding debt, and our asset base, including depreciation and amortization of our capital and intangible assets. In addition Adjusted EBITDA is an important measure for our lender.

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