EXHIBIT 11.1 QUANTUM CORPORATION COMPUTATION OF NET INCOME PER SHARE (In thousands except per share data) Three Months Ended Six Months Ended Oct. 1, Oct. 2, Oct. 1, Oct. 2, 1995 1994 1995 1994 PRIMARY Weighted average number of common shares during the period 52,498 45,305 50,266 45,027 Incremental common shares attributable to exercise of outstanding options 3,742 2,022 3,750 2,064 ------- ------- ------- ------- Total shares 56,240 47,327 54,016 47,091 Net income $22,025 $48,603 $34,967 $106,844 Net income per share $0.39 $1.03 $0.65 $2.27 FULLY DILUTED Weighted average number of common shares during the period 52,498 45,305 50,266 45,027 Incremental common shares attributable to exercise of outstanding options and conversion of 6 3/8% convertible subordinated debentures 11,069 13,732 12,677 13,773 ------- ------- ------- ------- Total shares 63,567 59,037 62,943 58,800 Net income (loss): Net income (loss) $22,025 $48,603 $34,967 $106,844 Add 6 3/8% convertible subordinated debentures interest, net of income tax effect 1,500 1,663 3,337 3,340 Net income, as adjusted $23,525 $50,266 $38,304 $110,184 Net income per share $0.37 $0.85 $0.61 $1.87