Exhibit 12.1


QUANTUM CORPORATION
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 
For the year ended March 31,
(dollars in thousands)
2015
 
2014
 
2013
 
2012
 
2011
Income (loss) from continuing operations
before income taxes
$
17,478

 
$
(20,257
)
 
$
(51,018
)
 
$
(8,369
)
 
$
5,711

Add fixed charges
12,079

 
13,145

 
12,078

 
17,100

 
25,420

Earnings (as defined)
$
29,557

 
$
(7,112
)
 
$
(38,940
)
 
$
8,731

 
$
31,131

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
9,755

 
$
9,754

 
$
8,342

 
$
12,996

 
$
21,349

Amortization of debt issuance costs
(i), (ii)

 
(i)

 
(i)

 
(i), (iii)

 
(i) (iv)

Estimated interest component of rent
expenses
2,324

 
3,391

 
3,736

 
4,104

 
4,071

Total fixed charges
$
12,079

 
$
13,145

 
$
12,078

 
$
17,100

 
$
25,420

Ratio of earnings to fixed charges (v)
2.45

 
n/a
 
n/a

 
0.51

 
1.22


____________________

(i)
In all years presented, the amortization of debt issuance costs is included in interest expense.
(ii)
Interest expense for fiscal 2015 in this table is comprised of: (a) $9.5 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations and (b) $0.3 million of debt issuance costs written off related to the $50 million of 3.50% subordinated convertible notes repurchased in fiscal 2015. The $0.3 million debt issuance costs written off are included in the loss on debt extinguishment in the Consolidated Statements of Operations for fiscal 2015.
(iii)
Interest expense for fiscal 2012 in this table is comprised of: (a) $10.7 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations and (b) $2.3 million of debt issuance costs written off related to the Credit Suisse credit agreement retired in fiscal 2012. The $2.3 million debt issuance costs written off are included in the loss on debt extinguishment in the Consolidated Statements of Operations for fiscal 2012.
(iv)
Interest expense for fiscal 2011 in this table is comprised of: (a) $20.2 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations and (b) $1.2 million of debt issuance costs written off related to subordinated term loans retired in fiscal 2011. The $1.2 million in debt issuance costs written off are included in loss on debt extinguishment in the Consolidated Statements of Operations for fiscal 2011.
(v)
Earnings, as defined, were insufficient to cover fixed charges by $20.3 million, $51.0 million and $8.4 million for fiscal years 2014, 2013 and 2012, respectively.