In simple terms yes. Care must be taken however when applying the first coat of varnish over the stain. If using a brush or roller the first coat of varnish should be lightly applied and not overworked by repeated brushing or rolling. Excessive working of the varnish on top of the stain will re-hydrate the stain and may result in the dragging of the colour or the colour becoming intermixed with the clear varnish. A way to avoid this is to use solvent-based stains under water-based varnishes or water-based stains under solvent-based varnishes.