Varex posted revenue of $177 million for the quarter (end-January 1), down 11.5% compared with revenue of $200 million in the same period the year before. The company's net loss for the most recent period was $6.3 million, compared with a net loss of $1.2 million in the first quarter of fiscal 2020.

However, Varex noted revenues increased 4% sequentially over the fourth quarter of fiscal year 2020, which indicates that the business is recovering, the firm said.