EXHIBIT 11
CANANDAIGUA WINE COMPANY, INC. AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER COMMON SHARE
(dollars in thousands, except share and per share data)
Six Months Ended
February 28, 1995 February 28, 1994
Primary Fully Diluted Primary Fully Diluted
Net income per common and common
equivalent share:
Net income available to common
shares $ 20,320 $ 20,320 $ 11,395 $ 11,395
Adjustments:
Assumed exercise of convertible
debt - - - 420
Net income available to common
and common equivalent shares $ 20,320 $ 20,320 $ 11,395 $ 11,815
Shares:
Weighted average common shares
outstanding 17,989,360 17,989,360 14,853,711 14,853,711
Adjustments:
(1) Assumed exercise of convertible
debt - - - 1,088,863
(2) Assumed exercise of incentive
stock options 283,554 284,648 227,018 238,419
(3) Assumed exercise of options 70,956 72,505 117,642 126,837
Weighted average common and common
equivalent shares outstanding 18,343,870 18,346,513 15,198,371 16,307,830
Net income per common and common
equivalent share $ 1.11 $ 1.11 $ 0.75 $ 0.72
Three Months Ended
Net income per common and common February 28, 1995 February 28, 1994
equivalent share: Primary Fully Diluted Primary Fully Diluted
Net income available to common
shares $ 9,988 $ 9,988 $ 5,741 $ 5,741
Adjustments:
Assumed exercise of convertible
debt - - - -
Net income available to common
and common equivalent shares $ 9,988 $ 9,988 $ 5,741 $ 5,741
Shares:
Weighted average common shares
outstanding 19,497,647 19,497,647 15,948,785 15,948,785
Adjustments:
(1) Assumed exercise of convertible
debt - - - -
(2) Assumed exercise of incentive
stock options 267,771 269,182 246,360 246,360
(3) Assumed exercise of options 92,350 94,814 180,251 180,251
Weighted average common and common
equivalent shares outstanding 19,857,768 19,861,643 16,375,396 16,375,396
Net income per common and common
equivalent share $ 0.50 $ 0.50 $ 0.35 $ 0.35