NU Online News Service, Aug. 8, 2003, 3:32 p.m. EDT – A company that conducts lab tests for life and health insurance underwriting organizations earned higher second-quarter profits.
The company, LabOne Inc., Lenexa, Kan., is reporting $5 million in net income for the latest quarter on $84 million in revenue, up from $3.6 million in net income on $75 million in revenue for the second quarter of 2002.
LabOne gets revenue from analyzing conventional medical lab tests and supporting employer drug-testing programs, but it is best known to insurers for its risk assessment unit, which evaluates applicants for life insurance, disability insurance and other insurance products.