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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."
About 200 investors applauded after the executive fielded 15 questions to finish the meeting at the company's headquarters ...
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