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 Six Months Ended August 31,
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1998 1997
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Basic Diluted Basic Diluted
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Income applicable to common shares $29,387 $29,387 $22,411 $22,411
Adjustments -- -- -- --
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Income applicable to common shares $29,387 $29,387 $22,411 $22,411
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Shares:
Weighted average common shares
outstanding 18,669 18,669 18,665 18,665
Adjustments:
Stock options -- 499 -- 337
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Adjusted weighted average common
shares outstanding 18,669 19,168 18,665 19,002
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Earnings per common share $ 1.57 $ 1.53 $ 1.20 $ 1.18
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For the Three Months Ended August 31,
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1998 1997
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Basic Diluted Basic Diluted
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Income applicable to common shares $15,772 $15,772 $12,365 $12,365
Adjustments -- -- -- --
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Income applicable to common shares $15,772 $15,772 $12,365 $12,365
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Shares:
Weighted average common shares
outstanding 18,589 18,589 18,559 18,559
Adjustments:
Stock options -- 462 -- 403
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Adjusted weighted average common
shares outstanding 18,589 19,051 18,559 18,962
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Earnings per common share $ 0.85 $ 0.83 $ 0.67 $ 0.65
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