Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

April 12, 1994

COMPUTATION PER SHARE

Published on April 12, 1994












EXHIBIT 11

CANANDAIGUA WINE COMPANY, INC. AND SUBSIDIARIES

COMPUTATION OF NET INCOME PER COMMON SHARE

FOR THE QUARTERS ENDED FEBRUARY 28, 1994 AND FEBRUARY 28, 1993


February 28, 1994 February 2

Net income per common
equivalent share: Fully Fully
Primary Diluted Primary Dilut

Net income available to
common shares $5,741,233 $5,741,233 $2,951,847 $2,951,8

Adjustments:
Assumed exercise of
convertible debt ----- ----- ----- 651,0

Net income available to
common and common
equivalent shares $5,741,233 $5,741,233 $2,951,847 $3,602,8
Shares:

Weighted average common
shares outstanding 15,948,785 15,948,785 11,638,649 11,638,6

Adjustments:

(1) Assumed exercise of
stock options 180,251 180,251 ----- ---
(2) Assumed exercise of
convertible debt ----- ----- ----- 3,293,0
(3) Assumed exercise of
incentive stock
options 246,360 246,360 140,573 140,5

Total shares 16,375,396 16,375,396 11,779,222 15,072,3
Net income per common share $.35 $.35 $.25 $.24