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LabOne Reports Higher Profits

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NU Online News Service, Feb. 18, 2004, 12:10 p.m. EST – Insurance testing volume was strong at LabOne Inc., Lenexa, Kan., during the fourth quarter of 2003.[@@]

The company is reporting a total of $5.7 million in net income for the latest quarter on $92 million in revenue, up from $4.4 million in net income on $77.9 million in revenue for the fourth quarter of 2002.

LabOne sells drug testing services and medical testing services, but it gets the majority of its revenue from selling risk-assessment services and related services to life and health insurers.

The company’s risk-assessment services revenue increased to $61.6 million in the fourth quarter of 2003, up 13% from the total for the comparable quarter in 2002.