Exhibit 99.1

JAKKS Pacific® Reports Third Quarter Results for 2012

Declares Cash Dividend for Fourth Quarter 2012

MALIBU, Calif.--(BUSINESS WIRE)--October 23, 2012--JAKKS Pacific, Inc. (NASDAQ: JAKK) reported results for the Company’s third quarter and first nine months ended September 30, 2012.

Net sales for the third quarter of 2012 were $314.5 million, compared to $332.4 million reported in the comparable period in 2011. Reported net income for the third quarter was $30.4 million, or $1.10 per diluted share, which includes $1.0 million of pre-tax charges, or $0.03 per diluted share, related to financial and legal advisory fees and expenses associated with the unsolicited indication of interest and activist shareholder activities. This compares to net income of $34.8 million, or $1.10 per diluted share, reported in the comparable period in 2011, which included $0.7 million, or $0.01 per diluted share, of financial and legal advisory fees and expenses. Excluding the legal and financial advising fees, third quarter earnings would have totaled $31.2 million, or $1.13 per diluted share, compared to $35.3 million, or $1.11 per diluted share, in 2011.

Net sales for the nine months ending September 30, 2012 were $533.3 million compared to $536.7 million in 2011. The net earnings reported for the nine month period was $14.7 million, or $0.59 per diluted share, which included $4.1 million of pre-tax charges, or $0.10 per diluted share, of financial and legal advisory fees and expenses. This compares to net income for the first nine months of 2011 of $28.5 million, or $0.97 per diluted share which included $1.8 million, or $0.04 per diluted share, of financial and legal advisory fees and expenses. Excluding the financial and legal advisory fees and expenses, the nine month earnings would have totaled $17.7 million, or $0.69 per diluted share, compared to earnings of $29.9 million, or $1.01 per diluted share, in 2011.

“In our third quarter we saw better than expected growth from our international business reflecting the success of our Monsuno line of toy products and solid performance from our Winx Club, Disney Princess and Disguise Halloween product lines,” commented Stephen Berman, President and CEO. “Our Monsuno, Winx Club, Cinderella and Big Wheels products, to name a few, have been received well at retail and have earned coveted positions on many retailer and media Hot Holiday Toy Lists both in the U.S. and abroad.”

Mr. Berman added, “We are in the midst of our Fall Toy Fair meetings with retailers, licensors and other industry partners and are excited by the enthusiastic response to our 2013 product line, including our new DreamPlay Toys products. We believe that our DreamPlay technology positions JAKKS to be a leader in interactivity and augmented reality play for children and will put JAKKS in the forefront of new trends with smart phones and other devices being used more and more each day by children of all ages for their gaming enjoyment and experiences. Looking ahead to 2013, we are optimistic about future opportunities including the launch of DreamPlay products and the solid performance of our core business lines, which spans a wide spectrum that includes action figures, dolls, dress-up and role play; Halloween costumes from Disguise, kids furniture and seasonal products from Kids Only; infant/pre-school products from Tollytots; ride-on vehicles and wagons from Moose Mountain, and outdoor and junior sports products and impulse toys from Maui Toys.”

As of September 30, 2012, the Company’s working capital was $257.5 million, including cash and equivalents and marketable securities of $141.0 million, compared to working capital of $401.4 million including cash and equivalents and marketable securities of $232.5 million as of September 30, 2011.

2012 Guidance & Dividend

As previously announced, the Company anticipates net sales for the full year of approximately $690 million to $700 million, with revised non-GAAP earnings per share in the range of approximately $0.68 to $0.74, excluding non-recurring legal and financial advisory charges of $0.19 per share. In addition, if the Company does not achieve sufficient U.S. taxable income - which is expected to be sufficient at non-GAAP earnings of approximately $0.74 per share - the Company will be required to take a one-time non-cash charge of $82 million, or $3.45 per share, for the full impairment of its domestic deferred tax assets. The revised guidance represents a reduction from the Company’s previously anticipated full year net sales of approximately $720 million to $728 million and diluted earnings per share in the range of approximately $1.04 to $1.08, excluding the financial and legal advisory fees. The Company’s guidance with respect to diluted earnings per share is a non-GAAP financial measure, due to the exclusion of such one-time charges. On a GAAP basis, the Company anticipates diluted earnings/loss per share for the full fiscal year ending December 31, 2012 to be in the range of a loss of $2.77 (taking into account such non-recurring charges) to earnings of $0.74.

The JAKKS Board of Directors has declared a regular quarterly cash dividend of $0.10 per common share payable on January 2, 2013 to shareholders of record at the close of business on December 14, 2012.

Conference Call

JAKKS Pacific will webcast its third quarter earnings conference call today, October 23, 2012, at 9:00 a.m. ET (6:00 a.m. PT). To listen to the live webcast, go to www.jakks.com/investors, and click on the earnings webcast link under Events and Presentations at least 10 minutes prior to register, download and install any necessary audio software. A telephonic playback will be available from 11:00 a.m. ET on October 23 through November 23, 2012. The playback can be accessed by calling (888) 843-7419, or (630) 652-3042 for international callers, passcode 33410527.

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer and marketer of toys and consumer products with a wide range of products that feature popular brands and children's toy licenses. JAKKS’ diverse portfolio includes Action Figures, Electronics, Dolls, Dress-Up, Role Play, Halloween Costumes, Kids Furniture, Vehicles, Plush, Art Activity Kits, Seasonal Products, Infant/Pre-School, Construction Toys, Ride-On Vehicles, Wagons, Inflatable Environments and Tents, Impulse Toys and Pet Products sold under various proprietary brands including JAKKS Pacific®, Creative Designs International™, Road Champs®, Funnoodle®, JAKKS Pets™, Plug It In & Play TV Games™, Kids Only!™, Tollytots®, Disguise®, Moose Mountain® and Maui Toys®. JAKKS is also the creator of the underlying Monsuno® property and toy line. JAKKS is an award-winning licensee of several hundred nationally and internationally known trademarks including Nickelodeon®, Warner Bros.®, Ultimate Fighting Championship®, Hello Kitty®, Graco®, Cabbage Patch Kids® and Pokémon®. www.jakks.com

This press release may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. Continued payment of the quarterly cash dividend will depend on many factors, including, but not limited to, JAKKS' earnings, financial condition, business development needs, and is at the discretion of the Board of Directors. The forward-looking statements contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

© 2012 JAKKS Pacific, Inc. All rights reserved.

CONTACT:
JAKKS Pacific, Inc.
Joel Bennett
(310) 455-6210
or
JAKKS Pacific, Inc.
Anne-Marie Feliciano
(310) 455-6245