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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1999 1998
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Basic Diluted Basic Diluted
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Income applicable to common shares $31,947 $31,947 $29,830 $29,830
Adjustments - - - -
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Income applicable to common shares $31,947 $31,947 $29,830 $29,830
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Shares:
Weighted average common shares
outstanding 17,994 17,994 18,669 18,669
Adjustments:
Stock options - 465 - 499
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Adjusted weighted average common
shares outstanding 17,994 18,459 18,669 19,168
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Earnings per common share $ 1.78 $ 1.73 $ 1.60 $ 1.56
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For the Three Months Ended August 31,
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1999 1998
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Basic Diluted Basic Diluted
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Income applicable to common shares $21,101 $21,101 $16,731 $16,731
Adjustments - - - -
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Income applicable to common shares $21,101 $21,101 $16,731 $16,731
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Shares:
Weighted average common shares
outstanding 18,010 18,010 18,589 18,589
Adjustments:
Stock options - 489 - 462
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Adjusted weighted average common
shares outstanding 18,010 18,499 18,589 19,051
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Earnings per common share $ 1.17 $ 1.14 $ 0.90 $ 0.88
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