Exhibit 99.1

JAKKS Pacific® Reports Third Quarter Results for 2011

MALIBU, Calif.--(BUSINESS WIRE)--October 18, 2011--JAKKS Pacific, Inc. (NASDAQ: JAKK) reported results for the Company’s third quarter and first nine months ended September 30, 2011.

Net sales for the third quarter of 2011 were $332.4 million, compared to $348.7 million reported in the comparable period in 2010. Net income for the third quarter was $34.8 million, or $1.10 per diluted share, which includes $0.7 million, or $0.01 per diluted share, related to legal and financial advising fees and expenses in conjunction with the unsolicited indication of interest to acquire the Company. This compares to $40.4 million, or $1.23 per share, which included a tax benefit of $5.9 million, or $0.17 per diluted share reported in the comparable period in 2010. Excluding the legal and financial advising fees in 2011 and tax benefit in 2010, third quarter earnings in 2011 would have been $35.3 million, or $1.11 per diluted share, compared to $34.5 million, or $1.06 per diluted share, in 2010. Gross margins held steady year over year and operating margins expanded 30 basis points with decreases in operating costs though offset in part by the legal and financial advising fees incurred in 2011.

Net sales for the nine months were $536.7 million, compared to $549.3 million in 2010. Net income reported for the nine month period was $28.5 million, or $0.97 per diluted share, which includes fees and expenses related to the unsolicited indication of interest of $1.8 million, or $0.04 per diluted share. This compares to net income for the first nine months of 2010 of $38.2 million, or $1.22 per diluted share, which includes a one-time pre-tax charge relating to the benefit payment of $2.8 million, or $0.06 per diluted share, to the estate of Jack Friedman pursuant to his employment agreement and tax benefits of $10.8 million, or $0.31 per diluted share. Excluding the legal and financial advising fees in 2011 and the tax benefit and one-time charge in 2010, the nine month earnings would have been $29.9 million, or $1.01 per diluted share, compared to $29.3 million, or $0.97 per diluted share in 2010.

“I am pleased to report that sales in the third quarter were in line with our expectations and several new toys from our portfolio are already garnering industry and retailer accolades,” remarked Stephen Berman, CEO and President of JAKKS Pacific. “Our Spy Net electronics, I Am T-Pain Mic, Cabbage Patch Kids, Singing and Storytelling Belle, Disney Princess Dress-Up and Role Play, to name just a few, have earned coveted positions on many retailer and media Hot Holiday Toy Lists both in the U.S. and abroad. We are also excited to expand our portfolio with our recently completed acquisition of Moose Mountain Toymakers.”

“In addition, we are wrapping up Fall Toy Fair meetings with retailers, licensors and other industry partners and are pleased with the enthusiastic response to our 2012 lines including Monsuno, Winx Club, Spy Net and others,” Mr. Berman added.

“We remain committed to delivering value to our stockholders,” said Joel Bennett, Executive Vice President and CFO, JAKKS Pacific. “During the quarter, we declared the Company’s first ever cash dividend and we completed our previously announced $30.0 million stock buy-back program with the repurchase of 1,206,000 shares of our common stock for a total of $19.3 million.”

Consistent with the seasonality of our business, operations used cash of $2.6 million for the first nine months of 2011 with inventory and accounts receivable at seasonal highs, and as of September 30, 2011, the Company’s working capital was $401.4 million, including cash and equivalents and marketable securities of $232.5 million, compared to working capital of $407.8 million including cash and equivalents and marketable securities of $218.8 million, as of September 30, 2010.

The Company today reaffirmed that it expects to report for the full year 2011 net sales of between $770 to $775 million and earnings per share in the range of $1.32 to $1.35 per diluted share.

Conference Call

JAKKS Pacific will webcast its second quarter earnings conference call at 9:00 a.m. ET (6:00 a.m. PT) today. To listen to the live webcast, go to investors.jakks.com, 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 can be accessed by calling (888) 286-8010, or (617) 801-6888 for international callers, pass code “98313273,” and will be available from approximately three hours after the call concludes, through November 18, 2011.

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 some of the most popular brands and children's toy licenses in the world. 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 and Pet Toys 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® and Disguise™. 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 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.

© 2011 JAKKS Pacific, Inc. All rights reserved.

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