Varex Imaging announced its financial results for the first quarter of fiscal 2021 were stronger than it expected, but they were still down from last year's results.
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.
