EXHIBIT 11
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CANANDAIGUA BRANDS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(in thousands, except per share data)
For the Nine Months Ended November 30,
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1999 1998
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Basic Diluted Basic Diluted
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Income applicable to common shares $61,847 $61,847 $49,991 $49,991
Adjustments - - - -
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Income applicable to common shares $61,847 $61,847 $49,991 $49,991
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Shares:
Weighted average common shares
outstanding 18,023 18,023 18,412 18,412
Adjustments:
Stock options - 479 - 469
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Adjusted weighted average common
shares outstanding 18,023 18,502 18,412 18,881
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Earnings per common share $ 3.43 $ 3.34 $ 2.72 $ 2.65
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For the Three Months Ended November 30,
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1999 1998
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Basic Diluted Basic Diluted
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Income applicable to common shares $29,900 $29,900 $20,161 $20,161
Adjustments - - - -
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Income applicable to common shares $29,900 $29,900 $20,161 $20,161
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Shares:
Weighted average common shares
outstanding 18,083 18,083 17,892 17,892
Adjustments:
Stock options - 568 - 433
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Adjusted weighted average common
shares outstanding 18,083 18,651 17,892 18,325
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Earnings per common share $ 1.65 $ 1.60 $ 1.13 $ 1.10
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