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LabOne Reports Higher 4th Quarter Net Income

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NU Online News Service, Feb. 26, 3:19 p.m. – LabOne Inc., Lenexa, Kan., is reporting $1.4 million in net income for the fourth quarter of 2001 on $70 million in revenue, up from a $1.7 million net loss on $46 million in revenue for the fourth quarter of 2000.

LabOne has a unit that processes substance abuse tests, and another unit that conducts paramedical exams for life insurance company underwriting operations.

LabOne acquired another testing company in the third quarter. Total “risk assessment” testing revenue reached $51 million in the fourth quarter, up 71% from the fourth quarter of 2000. Excluding the effects of acquisition, risk assessment revenue increased 39%, LabOne says.