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LabOne Reports Higher 1st Quarter Net Income

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NU Online News Service, May 7, 4:55 p.m. – LabOne Inc., Lenexa, Kan., is reporting $3.1 million in net income for the first quarter on $71 million in operating revenue, up from $397,010 in net income on $50 million in operating revenue for the first quarter of 2001.

LabOne performs underwriting tests, paramedical exams and related services for life and health insurance companies, and it also handles drug tests for employers and medical tests for doctors and managed care companies.

Revenue from drug testing fell 6%, to $6.1 million, but revenue from “risk assessment services” for insurers increased 54%, to $51 million, LabOne says.

The risk assessment revenue rose because the company sold more paramedical exams, telephone-based underwriting services and information-retrieval services, the company says.