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CEO of Rochester, Minn., Electronics Maker Outlines Restructuring Plan.
Byline: Bob Freund
Jul. 26--Shareholders clearly weren't clapping for Pemstar Inc.'s stock at the end of the company's annual meeting Thursday.
Pemstar shares had just finished the day's trading at $1.10 a share, the second-lowest closing price since their May 3 plunge.
But chairman and chief executive Al Berning had described a restructuring plan largely under way, along with a firm set of financial targets.
"We are confident," Berning said earlier, "... that we will return to profitability and growth."
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