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 Three Months Ended May 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 $ 8,501 $ 8,501 $ 10,637 $ 10,637
Adjustments -- -- -- --
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Net income available to common and common equivalent
shares $ 8,501 $ 8,501 $ 10,637 $ 10,637
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Shares:
Weighted average common shares outstanding 19,629 19,629 19,532 19,532
Adjustments:
(1) Assumed exercise of incentive stock options 210 210 290 303
(2) Assumed exercise of stock options 57 57 153 177
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Weighted average common and common equivalent shares
outstanding 19,896 19,896 19,975 20,012
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Net income per common and common equivalent share $ .43 $ .43 $ .53 $ .53
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