11-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934


[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2000

OR

[   ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________________ to_____________________




Commission file number: 0-16946

LabOne, Inc. Profit Sharing 401(K) Plan

LabOne, Inc.
10101 Renner Blvd
Lenexa, Kansas 66219

(913) 888-1770

401(K) PLAN OF

LabOne, Inc.

Financial Statements and Schedules

December 31, 2000, 1999, and 1998

(With Independent Auditors' Report Thereon)

Table of Contents

Financial Statements:

   Statements of Net Assets Available for Benefits, December 31, 2000 and 1999

   Statements of Changes in Net Assets Available for Benefits, Years ended December 31, 2000, 1999, and 1998

Schedules

Signatures

Exhibits

Exhibit 24: Independent Auditors' Consent

Independent Auditors' Report

The Board of Directors
LabOne, Inc.:

We have audited the accompanying statements of net assets available for benefits of the 401(k) Plan of LabOne, Inc. as of December 31, 2000 and 1999, and the related statements of changes in net assets available for benefits for each of the years in the three-year period ended December 31, 2000. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the 401(k) Plan of LabOne, Inc. at December 31, 2000 and 1999, and the changes in net assets available for benefits for each of the years in the three-year period ended December 31, 2000, in conformity with accounting principles generally accepted in the United States of America.

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.

KPMG LLP

June 18, 2001

401(K) PLAN OF LABONE, INC.

Statements of Net Assets Available for Benefits

December 31, 2000 and 1999

	2000	1999
Assets:
Investments	$ 17,602,775	16,602,614
Receivables from employees	216,453	167,092
Receivables from employers	108,226	83,544
Receivables from other accounts	5,893	4,083
Total assets	17,933,347	16,857,333
Liabilities - unapplied forfeitures	5,893	4,083
Net assets available for benefits	$ 17,927,454	16,853,250

See accompanying notes to financial statements.

401(K) PLAN OF LABONE, INC.

Statements of Changes in Net Assets Available for Benefits

Years ended December 31, 2000, 1999, and 1998

	2000	1999	1998
Additions to net assets attributed to:
Investment income (loss):
Net appreciation (depreciation) in          fair value of investments	$ (3,604,905)	101,316	(685,297)
Interest	48,256	52,648	47,675
Dividends	1,289,860	809,718	1,027,690
	(2,266,789)	963,682	390,068
Less investment expenses	4,232	3,905	3,417
Net investment income (loss)	(2,271,021)	959,777	386,651
Contributions:
Employee	1,938,927	1,650,928	1,340,238
Employer	942,220	787,538	601,801
Rollovers from other investment plans	1,691,952	—	422,602
Total additions	2,302,078	3,398,243	2,751,292
Deductions from net assets for distributions to participants	(1,227,874)	(1,158,891)	(858,302)
Net increase	1,074,204	2,239,352	1,892,990
Net assets available for benefits:
Beginning of year	16,853,250	14,613,898	12,720,908
End of year	$ 17,927,454	16,853,250	14,613,898

See accompanying notes to financial statements.

401(K) PLAN OF LABONE, INC.

Notes to Financial Statements

December 31, 2000, 1999, and 1998

(1) Summary of Significant Accounting Policies

(a) Organization

The following description of the 401(k) Plan of LabOne, Inc. (the Plan) provides only general information. Participants should refer to the Summary Plan Description text for a more complete description of the Plan's provisions.

The Plan was adopted by the Board of Directors of LabOne, Inc. (the Company) effective January 1, 1987. The Plan is administered by the Company. Employees of the Company are eligible for participation at the beginning of each calendar quarter following the date the employee completes five hundred hours of service, attains age 20 1/2, and completes six consecutive months of employment or one year of eligibility service, as defined.

The Plan allows participating employees to deduct their contributions from personal taxable income. Contributions made by the Company and participating employees will not be required to be included in the employees' taxable income until the year of withdrawal from the Plan.

(b) Basis of Presentation

The accompanying financial statements have been prepared on an accrual basis of accounting.

(c) Expenses

Substantially all costs and expenses incurred in administering the Plan are paid by the Company.

(d) Payment of Benefits

At December 31, 2000, participants whose account balances totaled $17,869 had notified the Plan Administrator that they had elected to withdraw from the Plan. This amount is presented herein as a component of net assets in the accompanying financial statements, but is presented as a liability of the Plan on Form 5500.

The following is a reconciliation of net assets available for benefits from the financial statements to the Form 5500 at December 31, 2000 and 1999:

	2000	1999
Net assets available for benefits per the financial statements	$ 17,927,454	16,853,250
Amounts allocated to withdrawing participants	(17,869)	(49,654)
Net assets available for benefits per the Form 5500	$ 17,909,585	16,803,596

The following is a reconciliation of distributions to participants per the financial statements to the Form 5500 at December 31, 2000, 1999, and 1998:

	2000	1999	1998
Distributions to participants per the financial statements	$ 1,227,874	1,158,891	858,302
Add amounts allocated to withdrawing participants    at end of year	17,869	49,654	192,691
Less amounts allocated to withdrawing participants    at beginning of year	(49,654)	(192,691)	(55,728)
Distributions paid to participants per the Form 5500	$ 1,196,089	1,015,854	995,265

(e) Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(f) Investments

The Plan's investments are held in a bank trust account. Investments in securities are stated at fair value. The fair value of marketable securities is based upon quotations from national securities exchanges. Plan assets include investments in common stock of the Company. Purchases and sales of investments are recorded on a trade-date basis.

(g) Forfeitures

Forfeitures are based on the nonvested portion of the employer contributions upon employee termination. Forfeited amounts are applied as a reduction of Company contributions.

(2) Investments

The Plan's investments are stated at fair value determined primarily by quoted market prices.

The following presents investments that represent 5% or more of the Plan's net assets:

	2000	1999
Company common stock	$ 3,414,043	3,110,882
American Century Investments:
Ultra Fund	6,097,446	6,851,601
Value Fund	2,044,709	1,676,071
International Growth Fund	2,131,082	2,425,569
Premium Capital Reserve Fund	1,037,874	—
Equity Growth Fund	947,000	—

During 2000 and 1999, the Plan's investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value as follows:

	2000	1999	1998
Mutual funds	$ (2,882,836)	2,559,365	803,818
Common stock	(722,069)	(2,458,049)	(1,489,115)
	$ (3,604,905)	101,316	(685,297)

At June 15, 2001, the fair value of 593,425 shares of common stock of the Company was $4,153,975.

(3) Nonparticipant Directed Investment

Company contributions are invested in Company common stock. Information about the net assets and the significant components of the changes in net assets relating to the nonparticipant directed investment for the years ended December 31, 2000, 1999, and 1998 is as follows:

	2000	1999	1998
Additions to net assets attributed to:
Investment income:
Net depreciation in fair value         of investments	$  (722,069)	(2,458,049)	(1,489,115)
Interest	214	5,685	—
Dividends	—	276,337	229,245
	(721,855)	(2,176,027)	(1,259,870)
Less investment expenses	80	211	66
Net investment loss	(721,935)	(2,176,238)	(1,259,936)
Contributions:
Employee	219,207	177,771	149,908
Employer	942,220	787,538	601,801
Rollovers from other investment plans	—	—	350,155
Total additions	439,492	(1,210,929)	(158,072)
Deductions from net assets attributed to:
Distributions to participants	(203,044)	(231,346)	(286,779)
Loans to participants	(9,951)	(7,565)	(30,327)
Loan repayments	19,719	17,531	18,990
Transfers between funds	87,416	149,018	22,489
Total deductions	(105,860)	(72,362)	(275,627)
Net increase (decrease)	333,632	(1,283,291)	(433,699)
Net assets available for benefits:
Beginning of year	3,209,828	4,493,119	4,926,818
End of year	$ 3,543,460	3,209,828	4,493,119

(4) Contributions

Participating employees may elect to contribute to the Plan up to 10% of their annual earnings subject to certain Internal Revenue Service (IRS) limitations. The Company has the discretion to contribute up to an additional 50% of the participant's contributions, not to exceed 5% of the participant's annual compensation. The Company elected to contribute the maximum amount for 2000, 1999, and 1998. Since 1987, all Company contributions have been invested in Company common stock.

Funds may be transferred between accounts at any time upon notification to American Century Investments.

Effective for Plan years 1996 and thereafter, the Company amended the Plan during 1997 to redefine compensation for highly compensated employees. Severance pay for highly compensated employees is not considered compensation for Plan purposes. Therefore, highly compensated employees are restricted from making Plan contributions from severance pay.

(5) Obligations for Benefits

Upon retirement or termination of employment, Plan participants are entitled to receive full value of their contributions and earnings thereon. Each participant becomes 100% vested in Company contributions after five years of service and is 100% vested upon disability, death, or attainment of age sixty-five while employed by the Company.

(6) Loans to Participants

Loans to participants may be authorized by the Plan's Administrative Committee. The amount may not be less than $500 and may not exceed one-half of the participants' vested account balances (limited to $50,000). Loans must carry a reasonable rate of interest defined as not less than the prime rate plus 1% at the date of the last day of the month preceding loan issuance. The loan period varies from one to five years.

(7) Federal Income Taxes

The Plan has received a determination letter from the IRS, dated December 17, 1997, stating that the Plan meets the requirements of Section 401(a) of the Internal Revenue Code and the trust is exempt from federal income taxes under the provisions of Section 501(a) of the Internal Revenue Code.

The Plan Administrator is not aware of any activity or transactions that may adversely affect the qualified status of the Plan.

Participants will not be taxed on Company contributions, their pretax contributions up to $10,500 in 2000 and $10,000 in 1999, or income of the trust until they receive distributions from the Plan. Participants' pretax contributions are subject to Social Security taxes and federal unemployment taxes.

(8) Plan Participants

The following summarizes the number of associate participants by fund as of December 31, 2000 and 1999:

	2000	1999
Company stock account	770	662
American Century Investments:
Ultra Fund	592	479
Value Fund	345	305
International Growth Fund	359	279
Premium Capital Reserve Fund	212	153
Premium Managed Bond Fund	187	135
Equity Growth Fund	314	208
Strategic Allocation: Conservative Fund	83	48
Strategic Allocation: Moderate Fund	184	96
Strategic Allocation: Aggressive Fund	189	118

Included in the Company stock account are participants who receive their employer match in this account, but make their own contributions to another account.

Schedule 1

401(K) PLAN OF LABONE, INC.

Schedule of Assets Held for Investment Purposes

December 31, 2000

	Number		Current
Description of investment	of units	Cost	value
Common stock:
LabOne, Inc.**	593,425	$  7,106,337	3,414,043
Mutual funds:
American Century Investments:
Ultra Fund	188,367	*	6,097,446
Value Fund	320,487	*	2,044,709
International Growth Fund	194,975	*	2,131,082
Premium Capital Reserve Fund	1,037,874	*	1,037,874
Premium Managed Bond Fund	49,057	*	489,098
Equity Growth Fund	43,500	*	947,000
Strategic Allocation: Conservative Fund	9,695	*	51,964
Strategic Allocation: Moderate Fund	86,894	*	548,301
Strategic Allocation: Aggressive Fund	28,029	*	203,208
			16,964,725
Loans to participants (interest rates on outstanding loans
at December 31, 2000 varied from 8.25% to 10.5%)**		*	638,050
Total investments			$  17,602,775

* In accordance with instructions to the Form 5500, the Plan is no longer required to disclose the cost component of participant-directed investments.

** Party-in-interest

See accompanying independent auditors' report.

Schedule 2

401(K) PLAN OF LABONE, INC.

Schedule of Reportable Transactions

Year ended December 31, 2000

						Current
				Expense		value of
				incurred	Cost	asset on
	Purchase	Selling	Lease	with	of	transaction	Gain
	price	price	rental	transaction	asset	date	(loss)
* LabOne, Inc. common stock	$ 1,321,845	—	—	—	1,321,845	1,321,845	—
* LabOne, Inc. common stock	—	295,437	—	—	599,249	295,437	(303,812)

* Party-in-interest

See accompanying independent auditors' report.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

LabOne, Inc. Profit Sharing 401(K) Plan

Date: June 28, 2001	By /s/ John W. McCarty John W. McCarty Benefits Administrative Committee Member
Date: June 28, 2001	By /s/ Kurt E. Gruenbacher Kurt E. Gruenbacher Benefits Administrative Committee Member

EX-24

Exhibit 24

Independent Auditors' Consent

The Board of Directors
LabOne, Inc.:

We consent to the incorporation by reference in the Registration Statements (No. 33-51484 and No. 33-59309) on Form S-8 of LabOne, Inc. of our report, dated June 18, 2001, relating to the statements of net assets available for benefits of the 401(k) Plan of LabOne, Inc. as of December 31, 2000 and 1999, and the related statements of changes in net assets available for benefits for each of the years in the three-year period ended December 31, 2000 and the supplementary schedules, which report is included herein.

KPMG LLP

Kansas City, Missouri
June 28, 2001