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CANANDAIGUA WINE REPORTS FIRST QUARTER RESULTS

 CANANDAIGUA WINE REPORTS FIRST QUARTER RESULTS
 CANANDAIGUA, N.Y., Jan. 9 /PRNewswire/ -- Canandaigua Wine Company


Inc. (AMEX: CDG.A, CDG.B), reported today operating results for its first quarter of fiscal 1992.
 Net sales for the first quarter ended Nov. 30, 1991 increased 42 percent to $63,580,026 compared to $44,780,937 for the first quarter of the previous year. Net income increased 43 percent to $2,409,616 or $.40 per share in the first quarter compared to $1,684,539 or $.26 per share for the same quarter of the prior year.
 The increase in net sales and net income in the first quarter principally resulted from sales of the company's newly acquired brands, including "Cook's" and "Cribari," which were purchased from Guild Wineries and Distilleries on Oct. 1, 1991.
 Marvin Sands, chairman of the board of the company, said: "We are pleased with our first quarter results which included only two months of Guild sales. We are excited about the addition of the Guild brands to the company's portfolio of brands and look forward to the positive contribution we believe the acquisition will make to our future performance."
 Canandaigua Wine Company is the third largest wine producer in the United States. The company owns and operates 11 wineries in New York, California and South Carolina. Its principal brands are "Wild Irish Rose," "Cook's," "Cisco," "Manischewitz," "J. Roget," "Cribari," "Marcus James," "Widmer's," "Mateus," and "Dunnewood."
 CANANDAIGUA WINE COMPANY LTD.
 (unaudited)
 Three Months Ended 11/30/91 11/30/90
 Total Per share Total Per share
 Net sales $63,580,026 -- $44,780,937 --
 Net income 2,409,616 $.40 1,684,539 $.26
 Weighted avg. of
 shares outst. 6,016,727 6,429,992
 -0- 1/9/92
 /CONTACT: Lynn K. Fetterman of Canandaigua Wine, 716-394-7900/
 (CDG) CO: Canandaigua Wine Company, Inc. ST: New York IN: FOD SU: ERN


KD-SB -- NY058 -- 8313 01/09/92 14:52 EST
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Date:Jan 9, 1992
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