Fabrinet (FN, Financial), a manufacturer of optical communications sensors and equipment, announced better-than-expected results5 on increased demand for its telecom and datacom products, despite continuing supply chain disruptions. While supply chain issues had a significant impact on the company’s automotive business, it was less than expected (automotive is a small but growing market for the company). We are impressed by the company’s execution and held a 3.4% position at quarter end.
From Steven Scruggs (Trades, Portfolio)' FPA Queens Road Small Cap Value Fund fourth-quarter 2021 commentary.
