EXHIBIT 11
CANANDAIGUA BRANDS, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(in thousands, except per share data)
For the Three Months Ended May 31,
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1998 1997
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Basic Diluted Basic Diluted
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Income applicable to common shares $13,615 $13,615 $10,046 $10,046
Adjustments -- -- -- --
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Income applicable to common shares $13,615 $13,615 $10,046 $10,046
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Shares:
Weighted average common shares outstanding 18,748 18,748 18,770 18,770
Adjustments:
Stock options -- 580 -- 275
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Adjusted weighted average common shares
outstanding 18,748 19,328 18,770 19,045
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Earnings per common share $ 0.73 $ 0.70 $ 0.54 $ 0.53
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