Exhibit 12.1


QUANTUM CORPORATION
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 
For the year ended March 31,
(dollars in thousands)
2017
 
2016
 
2015
 
2014
 
2013
Income (loss) from continuing operations
before income taxes
$
4,757

 
$
(73,500
)
 
$
17,478

 
$
(20,257
)
 
$
(51,018
)
Add fixed charges
10,313

 
9,039

 
12,079

 
13,145

 
12,078

Earnings (as defined)
$
15,070

 
$
(64,461
)
 
$
29,557

 
$
(7,112
)
 
$
(38,940
)
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
7,953

 
$
6,893

 
$
9,755

 
$
9,754

 
$
8,342

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

 
(i), (iii)

 
(i), (iv)

 
(i)

 
(i)

Estimated interest component of rent
expenses
2,360

 
2,146

 
2,324

 
3,391

 
3,736

Total fixed charges
$
10,313

 
$
9,039

 
$
12,079

 
$
13,145

 
$
12,078

Ratio of earnings to fixed charges (v)
n/a

 
n/a
 
—

 
n/a

 
n/a

____________________

(i)
In all years presented, the amortization of debt issuance costs is included in interest expense.
(ii)
Interest expense for fiscal 2017 in this table is comprised of: (a) $8.0 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations.
(iii)
Interest expense for fiscal 2016 in this table is comprised of: (a) $6.8 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations and (b) $0.1 million of debt issuance costs written off related to the $81.0 million of 3.50% subordinated convertible notes purchased in fiscal 2016. The $0.1 million debt issuance costs written off are included in the loss on debt extinguishment in the Consolidated Statements of Operations for fiscal 2016.
(iv)
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 purchased 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.
(v)
Earnings, as defined, were insufficient to cover fixed charges by $4.8 million, $73.5 million, $20.3 million and $51.0 million for fiscal years 2017, 2016, 2014 and 2013, respectively.