EXHIBIT 11.1 QUANTUM CORPORATION COMPUTATION OF NET INCOME PER SHARE (In thousands except per share data)
Three Months Ended Six Months Ended Sept 28, Sept 29, Sept 28, Sept 29, 1997 1996 1997 1996 ------------- ------------- ------------- ------------- Primary Weighted average number of common shares outstanding 135,062 115,434 133,434 113,178 Incremental common shares attributable to outstanding options 10,729 1,830 9,903 3,300 -------- -------- -------- -------- Total shares 145,791 117,264 143,337 116,478 ======== ======== ======== ======== Net income $103,778 $ 4,573 $200,292 $ 8,416 ======== ======== ======== ======== Net income per share $ 0.71 $ 0.04 $ 1.40 $ 0.07 ======== ======== ======== ======== Fully Diluted Weighted average number of common shares outstanding 135,062 115,434 133,434 113,178 Incremental common shares attributable to: Outstanding options 11,789 3,638 10,434 4,220 6 3/8% convertible subordinated debentures -- 10,728 -- 11,882 5% convertible subordinated notes 21,626 21,626 21,626 21,626 7% convertible subordinated notes 4,024 -- 2,012 -- -------- -------- -------- -------- Total shares 172,501 151,426 167,506 150,906 ======== ======== ======== ======== Net income: Net income $103,778 $ 4,573 $200,292 $ 8,416 Add interest on convertible debt, net of tax 3,767 2,741 5,577 5,682 -------- -------- -------- -------- Adjusted net income $107,545 $ 7,314 $205,869 $ 14,098 ======== ======== ======== ======== Net income per share $ 0.62 $ 0.05 $ 1.23 $ 0.09 * ======== ======== ======== ======== * 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. 29