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, --------------------------------------- 2000 1999 ----------------- ----------------- Basic Diluted Basic Diluted ------- ------- ------- ------- Income applicable to common shares $17,902 $17,902 $10,846 $10,846 ======= ======= ======= ======= Shares: Weighted average common shares outstanding 18,230 18,230 17,977 17,977 Adjustments: Stock options - 368 - 470 ------- ------- ------- ------- Adjusted weighted average common shares outstanding 18,230 19,598 17,977 18,447 ======= ======= ======= ======= Earnings per common share $ 0.98 $ 0.96 $ 0.60 $ 0.59 ======= ======= ======= =======