QUANTUM CORPORATION EXHIBIT 11 STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
(In thousands except per share data) Year ended March 31, ------------------------------------ 1996 1995 1994 ------------------------------------ PRIMARY Weighted average number of common shares outstanding 51,841 45,401 43,341 Incremental common shares attributable to outstanding options -* 1,918 1,626 -------- -------- -------- Total shares 51,841 47,319 44,967 ======== ======== ======== Net income (loss) $(90,456) $ 81,591 $ 2,674 -======== ======== ======== Net income (loss) per share $ (1.74) $ 1.72 $ .06 -======== ======== ======== FULLY DILUTED Weighted average number of common shares outstanding 51,841 45,401 43,341 Incremental common shares attributable to: Outstanding options 3,011 1,929 1,759 6 3/8% convertible subordinated debentures 8,129 11,708 11,708 5% convertible subordinated notes 1,302 - - -------- -------- --------- Total shares 64,283 59,038 56,808 ======== ======== ========= Net income (loss): Net income (loss) $(90,456) $ 81,591 $ 2,674 Add interest on convertible debt, net of tax 6,957 8,128 8,128 -------- -------- --------- Adjusted net income (loss) $(83,499) $ 89,719 $ 10,802 ======== ======== ========= Net income (loss) per share $ (1.30)* $ 1.52 $ .19 * ======== ======== =========
* The primary net income (loss) per share is shown in the statements of operations for both primary and fully diluted, as the effect of the assumed conversion of the subordinated debentures is anti-dilutive. For fiscal 1996, the effect of common stock equivalents is also anti-dilutive for the primary loss per share.