At March 31, we had $104 million of senior debt, which we expect to aggressively pay down during fiscal 2012, and $135 million of convertible debt, which we view as a more permanent layer of capital, given its maturity in 2015.
As I look back, fiscal 2011 was a year that we shifted our focus from repositioning and restructuring Quantum to a focus on growing the company. We did see the expected revenue declines in our OEM business and in tape royalties this year, but we delivered revenue growth in the areas where we were focused; namely, total branded revenue and both branded DXi and StorNext. In fact, branded revenue grew 5% for the year, branded DXi grew 43%, and StorNext revenue grew 28% this year.
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