EX-12.1 2 exhibit12-1.htm RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

QUANTUM CORPORATION

STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

For the year ended March 31,
(dollars in thousands)     2013     2012     2011     2010     2009
Income (loss) from continuing operations before income taxes $     (51,258 ) $     (7,922 ) $     4,554 $     17,908 $     (359,145 )
Add fixed charges 12,132 17,180 25,529 30,704 34,389
Earnings (as defined) $ (39,126 ) $ 9,258 $ 30,083 $ 48,612 $ (324,756 )
Fixed charges:    
       Interest expense $ 8,342 $ 12,996 $ 21,349 $ 26,139 $ 29,261
       Amortization of debt issuance costs (i) (i), (ii) (i), (iii) (i), (iv) (i)
       Estimated interest component of rent expenses 3,790 4,184 4,180 4,565 5,128
Total fixed charges $ 12,132 $ 17,180 $ 25,529 $ 30,704 $ 34,389
Ratio of earnings to fixed charges (v) n/a 0.54 1.18 1.58 n/a
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(i)        In all years presented, the amortization of debt issuance costs is included in interest expense.
 
(ii) 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.
 
(iii) 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.
 
(iv) Interest expense for fiscal 2010 in this table is comprised of: (a) $25.5 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations and (b) $0.6 million of debt issuance costs written off related to convertible subordinated notes retired in fiscal 2010. The $0.6 million of debt issuance costs written off related to convertible subordinated notes retired in fiscal 2010 are included in loss on debt extinguishment in the Consolidated Statements of Operations for fiscal 2010.
 
(v) Earnings, as defined, were insufficient to cover fixed charges by $51.3 million, $7.9 million and $359.1 million for fiscal years 2013, 2012 and 2009, respectively.