EXHIBIT 11
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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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1997 1996
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Net income per common and common Fully Fully
equivalent share: Primary Diluted Primary Diluted
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Net income available to common
and common equivalent shares $ 10,046 $ 10,046 $ 8,501 $ 8,501
Adjustments - - - -
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Net income available to common
and common equivalent shares $ 10,046 $ 10,046 $ 8,501 $ 8,501
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Shares:
Weighted average common shares
outstanding 18,770 18,770 19,629 19,629
Adjustments:
(1) Assumed exercise of incentive
stock options 466 552 210 210
(2) Assumed exercise of stock
options - - 57 57
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Weighted average common and common
equivalent shares outstanding 19,236 19,322 19,896 19,896
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Net income per common and common
equivalent share $ 0.52 $ 0.52 $ 0.43 $ 0.43
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