"This works fine" Is this correct?

Is the usage of the word "fine" correct in the following sentence?

This works fine

It seems that the author of the statement wanted to say that something was working, but not working well.

Solution 1:

I believe that in case of written English, the sentence does not indicate the mood of the author. It's more related to spoken emotion here. The author may grudgingly say 'This works fine' to indicate it's not as well as he had expected, or in an exciting tone, he may say 'This works fine!' to indicate his pleasure.

Solution 2:

Like others, I would assume the bare sentence to have a positive connotation. To get across a sense of disappointment, I'd write something like

I suppose this works fine...

or in a context which allows more informality,

I suppose this works OK.