Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

June 23, 1998

Published on June 23, 1998



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,
-----------------------------------
1998 1997
---------------- ----------------
Basic Diluted Basic Diluted
------- ------- ------- -------
Income applicable to common shares $13,615 $13,615 $10,046 $10,046
Adjustments -- -- -- --
------- ------- ------- -------
Income applicable to common shares $13,615 $13,615 $10,046 $10,046
------- ------- ------- -------
Shares:
Weighted average common shares outstanding 18,748 18,748 18,770 18,770
Adjustments:
Stock options -- 580 -- 275
------- ------- ------- -------
Adjusted weighted average common shares
outstanding 18,748 19,328 18,770 19,045
------- ------- ------- -------
Earnings per common share $ 0.73 $ 0.70 $ 0.54 $ 0.53
======= ======= ======= =======