EXHIBIT 11.1 QUANTUM CORPORATION COMPUTATION OF NET INCOME PER SHARE (In thousands except per share data) Three Months Ended Six Months Ended Sept. 29, Oct. 1, Sept. 29, Oct. 1, 1996 1995 1996 1995 ------- ------- ------- ------- PRIMARY Weighted average number of common shares during the period 57,717 52,498 56,589 50,266 Incremental common shares attributable to exercise of outstanding options 915 3,742 1,650 3,750 ------- ------- ------- ------- Total shares 58,632 56,240 58,239 54,016 ======= ======= ======= ======= Net income $ 4,573 $22,025 $ 8,416 $34,967 ======= ======= ======= ======= Net income per share $ 0.08 $ 0.39 $ 0.14 $ 0.65 ======= ======= ======= ======= FULLY DILUTED Weighted average number of common shares during the period 57,717 52,498 56,589 50,266 Incremental common shares attributable to exercise of outstanding options and conversion of 6 3/8% convertible subordinated debentures and 5% convertible subordinated notes 17,996 11,069 18,864 12,677 ------- ------- ------- ------- Total shares 75,713 63,567 75,453 62,943 ======= ======= ======= ======= Net income: Net income $ 4,573 $22,025 $ 8,416 $34,967 Add 6 3/8% convertible subordinated debentures and 5% convertible subordinated notes interest, net of income tax effect 2,741 1,500 5,682 3,337 Net income, as adjusted $ 7,314 $23,525 $14,098 $38,304 ======= ======= ======= ======= Net income per share $ 0.10* $ 0.37 $ 0.19* $ 0.61 ======= ======= ======= ======= * The primary net income per share is shown in the statements of income as both primary and fully diluted, as the effect of the assumed conversion of the subordinated debt is anti-dilutive.