Exhibit 99.1

QUANTUM CORPORATION REPORTS FISCAL SECOND QUARTER RESULTS

Highlights:

• Total revenue of $147 million, up 5% sequentially
• Record disk systems and software revenue of $42 million, up 18% year-over-year
• Record DXi revenue driven by 30% year-over-year increase in enterprise sales

• Record StorNext revenue, up 27% year-over-year and reflecting continued StorNext appliances momentum

SAN JOSE, Calif., Oct. 24, 2012 – Quantum Corp. (NYSE:QTM), a proven global expert in data protection and big data management, today reported results for the second quarter of fiscal 2013 (FQ2’13), ended Sept. 30, 2012. Revenue for the quarter totaled $147 million, down 11 percent from the second quarter of fiscal 2012 (FQ2’12) primarily due to lower-than-expected OEM and branded tape automation revenue. However, total revenue was up $6 million, or 5 percent, sequentially. In addition, Quantum reported record revenue of $42 million from disk system and software sales (including related service), which increased 18 percent from FQ2’12 and 38 percent sequentially. Both DXi^® and StorNext^® revenues were also the highest they have ever been for a quarter, growing 14 percent and 27 percent, respectively, over FQ2’12.

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Quantum Corporation Reports Fiscal Second Quarter Results
Oct. 24, 2012, 1:05 p.m. PDT – Page 2

Quantum reported a GAAP net loss of $12 million, or 5 cents per share, for FQ2’13, compared to GAAP net income of $4 million in FQ2’12. On a non-GAAP basis, the company had a net loss of $5 million, or 2 cents per share, down from net income of $14 million in the same quarter last year. The year-over-year declines were largely driven by the lower overall revenue.

“We are very pleased with our record results in disk systems and software, as these products are key to driving higher revenue growth and profit,” said Jon Gacek, president and CEO of Quantum. “In the September quarter, we also continued to expand and enhance our product portfolio to build on this momentum moving forward, launching our Q-Cloud™ backup and disaster recovery subscription service, shipping the next generation of our vmPRO virtual data protection software, adding 3 TB drives to our DXi8500 enterprise deduplication line and releasing a new version of our StorNext big data management software.

“We believe the shortfall in tape revenue and impact on profits was largely due to the industry transitioning to the latest LTO generation technology. Nevertheless, as we begin the second half of the fiscal year, we are taking actions to reduce spending in certain areas so that we can continue to make the investments that best support our growth strategy.”

Outlook

For the third quarter of fiscal 2013, Quantum expects:

• Revenue of approximately $160 million.
• GAAP gross margin rate of approximately 41 percent and non-GAAP gross margin rate of 42 percent.
• GAAP operating expenses of $67 million to $69 million and non-GAAP operating expenses of $62 million to $64 million.
• Interest expense of $2 million and taxes of $500,000.

For the full fiscal year, the company now expects:

• Revenue of approximately $600 million.
• GAAP gross margin rate of approximately 41 percent and non-GAAP gross margin rate of 42 percent.
• GAAP operating expenses of approximately $273 million and non-GAAP operating expenses of approximately $250 million.

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Quantum Corporation Reports Fiscal Second Quarter Results
Oct. 24, 2012, 1:05 p.m. PDT – Page 3

Business Highlights

Key business highlights for the September quarter include the following:

• Quantum introduced Q-Cloud, a new cloud-based backup and disaster recovery subscription service incorporating Quantum’s DXi and vmPRO technology and delivering business-class data protection for as little as 1 cent/GB/month. Q-Cloud provides backup of both physical and virtual infrastructures for capacities ranging from 1 TB up to 1 PB of protected data. With an on-premise DXi appliance, Q-Cloud customers can benefit from the speed and convenience of local recovery with the security of cloud-based backup.
• The company increased the storage density and power savings in its DXi8500 appliances, creating the industry’s most efficient disk backup and deduplication solution for enterprise customers. The DXi8500 now incorporates 3 TB disk drives to deliver 50 percent greater storage density, 42 percent more power savings and 25 percent higher performance, offering the smallest footprint and the highest value of any enterprise disk backup solution available.
• Shipments of the DXi6700 appliance family surpassed 1,000 units, reflecting the broad adoption of the DXi6701 and DXi6702 during its first year in the market. Designed to eliminate the trade-offs customers have to make with other deduplication solutions, the DXi6701/02 has received several product of the year honors and other industry recognition. (See separate press release issued today titled, “Quantum Ships 1,000th DXi6701/02 Midrange Deduplication Appliance.”)
• Quantum released StorNext 4.3 software, which brings new intelligence features, greater performance and increased scale to managing big data, including support for up to one billion files and dozens of petabytes of tiered storage. This latest generation StorNext software also includes unique capabilities for emerging needs, such as archive on ingest, active vaulting and project-based capacity management – all designed to help customers extract maximum value from their data.
• StorNext File System shipments surpassed 70,000, representing an increase of nearly 20 percent in less than nine months. In addition, the unique value StorNext provides in helping customers manage big data was reflected in two other announcements made during the quarter. First, a NASCAR video project in which StorNext played a central role won a prestigious Innovation Award at IBC 2012, a leading international conference for the media and entertainment industry. Second, in research sponsored by Quantum and conducted by IDC, the industry analyst firm found that StorNext customers experienced a return of nearly $6.50 for every $1 invested over three years, with payback in just over four months.
• Teradata, the leading analytic data solutions company, selected Quantum’s Scalar^® tape libraries and Scalar Key Manager™ encryption software as standard elements in its enterprise data protection solution offerings for customers. This partnership speaks to Quantum’s worldwide market share leadership in open systems tape automation and enables the company to extend its customer reach even further.

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Quantum Corporation Reports Fiscal Second Quarter Results
Oct. 24, 2012, 1:05 p.m. PDT – Page 4

Conference Call and Audio Webcast Notification

Quantum will hold a conference call today, Oct. 24, 2012, at 2:00 p.m. PDT, to discuss its fiscal second quarter results. Press and industry analysts are invited to attend in listen-only mode. Dial-in number: (480) 629-9818 (U.S. & International). Quantum will provide a live audio webcast of the conference call beginning today, Oct. 24, 2012, at 2:00 p.m. PDT. Site for the webcast and related information: http://www.quantum.com/investors.

About Quantum

Quantum is a proven global expert in data protection and big data management, providing specialized storage solutions for physical, virtual and cloud environments. From small businesses to major enterprises, more than 50,000 customers trust Quantum to help maximize the value of their data by protecting and preserving it over its entire lifecycle. With Quantum, customers can Be Certain™ they’re able to adapt in a changing world – keeping more data longer, bridging from today to tomorrow, and reducing costs. See how at www.quantum.com/BeCertain.

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Quantum Corporation Reports Fiscal Second Quarter Results
Oct. 24, 2012, 1:05 p.m. PDT – Page 5

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Quantum, the Quantum logo, Be Certain, Q-Cloud, DXi, StorNext, Scalar and Scalar Key Manager are either registered trademarks or trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

“Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995: This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, without limitation, our statements regarding taking actions to reduce spending so that we can continue to make the investments that best support our growth strategy, that the Teradata relationship enables us to extend our customer reach and all of our statements under the “Outlook” section are forward-looking statements within the meaning of the Safe Harbor. All forward-looking statements in this press release are based on information available to Quantum on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause Quantum’s actual results to differ materially from those implied by the forward-looking statement. More detailed information about these risk factors, and additional risk factors, are set forth in Quantum’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled “Risk Factors” in Quantum’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 14, 2012 and in Quantum’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 9, 2012. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Measures

Quantum believes that the non-GAAP financial measures disclosed above provide useful and supplemental information to investors regarding its quarterly financial performance. Quantum management uses these non-GAAP financial measures internally to understand, manage and evaluate the company’s business results and make operating decisions. For instance, Quantum management often makes decisions regarding staffing, future management priorities and how the company will direct future operating expenses on the basis of non-GAAP financial measures. In addition, compensation of our employees is based in part on the performance of our business based on non-GAAP operating income.

The non-GAAP financial measures used in this press release exclude the impact of acquisition expenses, amortization of intangibles, restructuring charges and share-based compensation expense for the following reasons:

Acquisition Expenses
The acquisition expenses were those expenses incurred to acquire Pancetera, Inc. and are not part of Quantum’s future core operations.

Amortization of Intangible Assets
This includes acquired intangibles such as purchased technology and customer relationships in connection with prior acquisitions. These expenses are not factored into management’s evaluation of potential acquisitions or Quantum’s performance after completion of the acquisitions because they are not related to Quantum’s core operating performance. In addition, the frequency and amount of such charges can vary significantly based on the size and timing of acquisitions and the maturities of the businesses being acquired. Excluding acquisition-related charges from non-GAAP measures provides investors with a basis to compare Quantum against the performance of other companies without the variability caused by purchase accounting.

Restructuring Charges
Restructuring charges primarily relate to expenses associated with changes to Quantum’s operating structure. Restructuring charges are excluded from non-GAAP financial measures because they are not considered core operating activities. Although Quantum has engaged in various restructuring activities in the past, each has been a discrete event based on a unique set of business objectives. Management believes that it is appropriate to exclude restructuring charges from Quantum’s non-GAAP financial measures, as it enhances the ability of investors to compare Quantum’s period-over-period operating results from continuing operations.

Share-Based Compensation Expense
Share-based compensation expense relates primarily to equity awards such as stock options and restricted stock units. Share-based compensation is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Quantum’s control. As a result, management excludes this item from Quantum’s internal operating forecasts and models. Management believes that non-GAAP measures adjusted for share-based compensation provide investors with a basis to measure Quantum’s core performance against the performance of other companies without the variability created by share-based compensation as a result of the variety of equity awards used by other companies and the varying methodologies and assumptions used.

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. They are limited in value because they exclude charges that have a material impact on the company’s reported financial results and, therefore, should not be relied upon as the sole financial measures to evaluate the company. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures. Investors are encouraged to review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release.

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QUANTUM CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

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QUANTUM CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

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QUANTUM CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

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QUANTUM CORPORATION
GAAP TO NON-GAAP RECONCILIATION
(In thousands, except per share amounts)
(Unaudited)

The non-GAAP information set forth in this table is not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial information used by other companies.

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QUANTUM CORPORATION
GAAP TO NON-GAAP RECONCILIATION
(In thousands, except per share amounts)
(Unaudited)

The non-GAAP information set forth in this table is not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial information used by other companies.

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QUANTUM CORPORATION
FORECAST THIRD QUARTER AND FULL YEAR FISCAL 2013
GAAP TO NON-GAAP RECONCILIATION
(Dollars in millions)

FORECAST THIRD QUARTER FISCAL 2013

Estimates based on current (October 24, 2012) projections.

The projected GAAP and non-GAAP financial information set forth in this table represent forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For risk factors that could impact these projections, see our Annual Report on Form 10-K as filed with the SEC on June 14, 2012. We disclaim any obligation to update information in any forward-looking statement.

The non-GAAP financial information set forth in this table is not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial information used by other companies.

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