Exhibit 99.1

MAD CATZ FISCAL 2013 THIRD QUARTER EPS IMPROVES TO $0.05 COMPARED TO PRIOR YEAR EPS OF $0.02

Continued International Success Drives 11% Year-to-Date Sales Growth

San Diego, CA – February 5, 2013 – Mad Catz Interactive, Inc. (“Mad Catz” or the “Company”) (NYSE MKT/TSX: MCZ), today announced financial results for its third fiscal quarter ended December 31, 2012.

For the quarter ended December 31, 2012, the Company generated net sales of $45.0 million, a decrease of 3% from net sales of $46.2 million in the prior year quarter. Gross profit increased 15% to $12.9 million, from $11.2 million in the prior year quarter, while gross profit margin improved to 29% from 24% a year ago. Total operating expenses in the fiscal 2013 third quarter were $8.8 million, down 3% from $9.0 million in the prior year quarter, leading to operating income of $4.1 million, a $1.9 million improvement from the $2.2 million recorded in the prior year quarter. Foreign exchange gain was less than $0.1 million, compared to a loss of $0.5 million in the prior year quarter. Reflecting income tax expense of $1.1 million, the Company recorded net income of $3.1 million, or $0.05 per diluted share, in the fiscal 2013 third quarter, compared to $1.5 million, or $0.02 per diluted share, in the prior year quarter.

Adjusted EBITDA, a non-GAAP measure (defined as earnings before interest, taxes, depreciation and amortization and change in fair value of warrant liability), was $4.9 million in the fiscal 2013 third quarter, compared to $2.5 million a year ago. Adjusted net income and adjusted income per share, which exclude the impact of amortization of intangibles, stock-based compensation, change in warrant liability and goodwill impairment (if any), were $3.2 million and $0.05, respectively, versus adjusted net income and adjusted income per share of $1.7 million and $0.03, respectively, in the prior year quarter. A reconciliation of Adjusted EBITDA, adjusted net income and adjusted income per share to the Company’s net income and net income per share is included in the financial tables accompanying this release.

In the nine months ended December 31, 2012, the Company generated net sales of $98.1 million, an increase of 11% from net sales of $88.4 million in the prior year period. Year to date, gross profit increased 25% to $28.2 million, from $22.6 million in the prior year period, while gross profit margin improved to 29% from 26% a year ago. Total operating expenses in the nine months ended December 31, 2012, were $25.2 million, down 6% from $26.9 million in the prior year period, leading to operating income of $3.0 million, compared to an operating loss of $4.3 million in the prior year period. Foreign exchange gain was less than $0.1 million,

compared to a loss of $0.3 million in the prior year period. Reflecting income tax expense of $1.7 million, the Company recorded net income of $1.0 million, or $0.01 per diluted share, in the nine months ended December 31, 2012, compared to a net loss of $2.4 million, or $0.04 per diluted share, in the prior year period.

Adjusted EBITDA was $5.4 million in the nine months ended December 31, 2012, compared to a loss of $2.1 million in the prior year period. Adjusted net income and adjusted income per share were $1.8 million and $0.03, respectively, versus adjusted net loss and adjusted loss per share of $4.4 million and $0.07, respectively, in the prior year quarter.

Summary of Fiscal 2013 Third Quarter Key Metrics:

Highlights of New Products Shipped in Fiscal 2013 Third Quarter and Subsequent:

Highlights of Upcoming Product Launches:

Key Developments in Fiscal 2013 Third Quarter and Subsequent:

Commenting on the results, Darren Richardson, President and Chief Executive Officer of Mad Catz, said, “Three years ago, we made a strategic decision to shift our focus towards high-value products designed for passionate, hard core gaming consumers. Though this major transition is still on-going, we have now reached an inflection point in which growth in our targeted product categories is surpassing the decline in the sales of our legacy products.

“Net sales during the holiday period declined 3% with the continuing growth in Europe, Canada and Asia-Pacific offset by a decline in sales in the United States. In the third quarter of fiscal 2013 sales of PC and Mac input device products, predominately gaming mice and keyboards, grew 40% and accounted for 19% of sales. Sales of audio products grew 33% and accounted for 54% of sales.

“On a year to date basis net sales grew by 11% with European net sales up 15%, Asia Pacific up 126% Canada up 44%, and the United States down 4%. Year to date, sales of PC and Mac input device products grew 52% and accounted for 20% of sales. Sales of audio products grew 33% and accounted for 48% of sales. With 68% of our business growing at over 30% on a

year over year basis, we are confident that the strategy to reposition the Company is taking effect, despite the on-going cautious consumer environment and challenging industry trends.

“We also believe that our growing portfolio of premium products have much longer life spans and offer the best path forward as the video game industry reaches a transition with many casual gamers migrating to mobile gaming, leaving hard core gamers who demand superior products. We realize that increased sales of our premium 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, we continue to expand our geographic footprint by building a worldwide sales and marketing team. As the Internet allows for increased worldwide on-line competition, the Company is committed to positioning itself as a leading provider of products that optimize the passionate video gamer’s performance on a global basis.

“For example, we continue to invest in sales and marketing in the Asia Pacific region and are starting to realize the benefits of that investment through our expanded geographic footprint. Sales to Other Countries accounted for 2% of net sales in fiscal 2011, 5% of sales in fiscal 2012, and 7% of sales in the first three quarters of fiscal 2013.

“We are also excited about the GameSmart initiative announced earlier this month. GameSmart aims to enable core gaming on smart devices, equivalent to the console living room or PC gaming experience. We’re committed to adding smart device compatibility to our core gaming products wherever practical and to playing a pivotal role in bringing core gaming to smart devices. We are excited about this new initiative and believe it fits with our long-term strategy of designing innovative products for passionate gamers.

Mr. Richardson concluded, “Looking ahead, we have a range of exciting initiatives that should benefit calendar 2013 and beyond. Our expanding line of products for passionate consumers is going into wide distribution in many parts of the world aided by our expanding global distribution footprint. The launch of the WiiU marked the first of a new generation of consoles that we believe will provide additional product opportunities. We intend to increase marketing and awareness efforts for our universally acclaimed audio products and R.A.T. PC and Mac products and plan to further fill out the PC and Mac product range. We intend to continue targeting software opportunities that pose manageable downside risk by complementing our hardware initiatives. We are also committed to supporting the professional gaming community through the development of products that live up to their exacting demands.”

The Company will host a conference call and simultaneous webcast on February 5, 2013, at 5:00 p.m. ET, which can be accessed by dialing (303) 223-2680. Following its completion, a replay of the call can be accessed for 30 days at the Company’s Web site (www.madcatz.com, select “About Us/Investors”) or for 7 days via telephone at (800) 633-8284 (reservation #21647758) 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™; 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; the continuing impact of current economic conditions or a further 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)

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MAD CATZ INTERACTIVE, INC.

Consolidated Balance Sheets

(unaudited in thousands of US$)

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MAD CATZ INTERACTIVE, INC.

Supplementary Data

(unaudited, in thousands of US$)

Geographical Sales Data

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

Adjusted Net Income Reconciliation (non GAAP)

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EBITDA and Adjusted EBITDA Reconciliation (non GAAP)

EBITDA, a non-GAAP financial measure, represents net income or 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 EBITDA. Adjusted EBITDA represents net loss plus interest, taxes, depreciation and amortization and change in fair value of warrant liability. 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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