EXHIBIT 11
CANANDAIGUA WINE COMPANY, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE
(in thousands, except per share data)
(unaudited)
For the Six Months Ended August 31,
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1996 1995
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Fully Fully
Net income per common and common equivalent share: Primary Diluted Primary Diluted
------- ------- ------- -------
Net income available to common and common equivalent
shares $ 13,442 $ 13,442 $ 20,700 $ 20,700
Adjustments - - - -
Net income available to common and common equivalent ------- ------- ------- -------
shares $ 13,442 $ 13,442 $ 20,700 $ 20,700
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Shares:
Weighted average common shares outstanding 19,553 19,553 19,550 19,550
Adjustments:
(1) Assumed exercise of incentive stock options 204 204 285 313
(2) Assumed exercise of stock options 38 38 168 218
Weighted average common and common equivalent shares ------- ------- ------- -------
outstanding 19,795 19,795 20,003 20,081
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Net income per common and common equivalent share $ .68 $ .68 $ 1.03 $ 1.03
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For the Three Months Ended August 31,
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1996 1995
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Fully Fully
Net income per common and common equivalent share: Primary Diluted Primary Diluted
------- ------- ------- -------
Net income available to common and common equivalent
shares $ 4,941 $ 4,941 $ 10,063 $ 10,063
Adjustments - - - -
Net income available to common and common equivalent ------- ------- ------- -------
shares $ 4,941 $ 4,941 $ 10,063 $ 10,063
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Shares:
Weighted average common shares outstanding 19,477 19,477 19,567 19,567
Adjustments:
(1) Assumed exercise of incentive stock options 152 152 291 311
(2) Assumed exercise of stock options 24 24 182 218
Weighted average common and common equivalent shares ------- ------- ------- -------
outstanding 19,653 19,653 20,040 20,096
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Net income per common and common equivalent share $ .25 $ .25 $ .50 $ .50
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