UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549
                                  FORM 10-Q



           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934
                For quarterly period ended   March 31, 1997
                                           ------------------


                      Commission file number:  0-15975


                                LabOne, Inc.
             ----------------------------------------------------
            (Exact name of registrant as specified in its charter)


              Delaware                               48-0952323
             ----------                            --------------
    (State or other jurisdiction                 (I.R.S. Employer 
  of incorporation or organization)              Identification No.)


        10310 West 84th Terrace
            Lenexa, Kansas                             66214
      -----------------------------                   -------
(Address of principal executive offices)             (Zip Code)


                               (913)-888-1770
                      --------------------------------
             (Registrant's telephone number, including area code)


                                     N/A
                    ------------------------------------
              (Former name, former address, former fiscal year,
                       if changed since last report)


Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
                            Yes  [X]        No  [ ]

Number of shares outstanding of only class of Registrant's common stock,
$.01 par value, as of May 1, 1997 -  13,104,935 net of 1,895,065 shares
held as treasury stock.





                                Page 1 of 10
<TABLE>                 PART I.  FINANCIAL INFORMATION
ITEM 1 - Financial Statements
                         LabOne, Inc. and Subsidiary
                         Consolidated Balance Sheets
<S>                                                             <C>            <C>
                                                                   March 31,     December 31,
                                                                      1997           1996
ASSETS                                                             ---------       ---------
Current assets:
   Cash and cash equivalents                                     $ 4,121,920       3,613,454
   Short-term investments                                         20,342,910      27,781,974
   Accounts receivable-trade, net of allowance for doubtful
     accounts of $795,368 in 1997 and $657,558 in 1996            11,919,220       9,598,707
   Inventories                                                     1,958,507       1,360,164
   Prepaid expenses and other current assets                       1,616,676       2,074,538
   Deferred income taxes                                             682,206         682,206
                                                                  ----------      ----------
      Total current assets                                        40,641,439      45,111,043
Investments with maturities of more than one year, at cost           503,755         504,292
Property, plant and equipment                                     53,442,902      52,642,497
   Less accumulated depreciation                                  36,205,721      35,751,529
                                                                  ----------      ----------
      Net property, plant and equipment                           17,237,181      16,890,968
Other assets:
   Intangible assets, net of accumulated amortization              5,987,747       2,098,987
   Deferred income taxes - noncurrent                                193,539         114,683
   Deposits and other assets                                          23,198          23,202
                                                                  ----------      ----------
      Total assets                                               $64,586,859      64,743,175
                                                                  ==========      ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
   Accounts payable                                              $ 3,122,045       2,971,376
   Income taxes payable                                              800,302           -
   Payable to Seafield Capital Corporation                            35,106          26,217
   Accrued payroll and benefits                                    2,587,041       2,802,566
   Other accrued expenses                                            513,671         393,811
   Other current liabilities                                         100,945          99,912
                                                                  ----------      ----------
      Total liabilities                                            7,159,110       6,293,882
Stockholders' equity:
   Preferred stock, $.01 par value per share;
     1,000,000 shares authorized, none issued                            -               -
   Common stock, $.01 par value per share; 40,000,000 shares
     authorized, 15,000,000 shares issued                            150,000         150,000
   Additional paid-in capital                                     13,554,189      13,546,121
   Equity adjustment from foreign currency translation              (569,449)       (543,959)
   Retained earnings                                              66,498,631      67,494,437
                                                                  ----------      ----------
                                                                  79,633,371      80,646,599
   Less treasury stock of 1,915,065 shares in
     1997 and 1,915,835 shares in 1996                            22,205,622      22,197,306
                                                                  ----------      ----------
      Total stockholders' equity                                  57,427,749      58,449,293
                                                                  ----------      ----------
      Total liabilities and stockholders' equity                 $64,586,859      64,743,175
                                                                  ==========      ==========
See accompanying notes to consolidated financial statements and management's
discussion and analysis of financial condition and results of operations.
                                   Page 2
</TABLE>



                         LabOne, Inc. and Subsidiary
                     Consolidated Statements of Earnings


                                                 Three months ended March 31,
                                                       1997           1996
                                                    ----------     ----------

Sales                                             $ 17,739,985     13,277,845

Cost of sales                                        9,450,105      7,477,322
                                                    ----------     ----------
     Gross profit                                    8,289,880      5,800,523

Selling, general and administrative expenses         6,430,906      5,785,338
                                                    ----------     ----------
     Earnings from operations                        1,858,974         15,185

Other income                                           428,301        371,462
                                                    ----------     ----------
     Earnings before income taxes                    2,287,275        386,647

Income tax expense                                     927,793        167,302
                                                    ----------     ----------
     Net earnings                                  $ 1,359,482        219,345
                                                    ==========     ==========



Earnings per common share                             $ 0.10           0.02
                                                       ======         ======

Dividends per common share                            $ 0.18           0.18
                                                       ======         ======

Weighted average common shares outstanding          13,344,967     13,189,724
                                                    ==========     ==========
















See accompanying notes to consolidated financial statements and management's
discussion and analysis of financial condition and results of operations.
                                 Page 3




                         LabOne, Inc. and Subsidiary
                Consolidated Statement of Stockholders' Equity
                      Three Months Ended March 31, 1997

<TABLE>
<CAPTION>
                                  Additional    Foreign                                 Total
                         Common     paid-in    currency     Retained     Treasury   stockholders'
                         stock      capital   translation   earnings       stock        equity
<S>                   <C>        <C>          <C>         <C>          <C>           <C>        
Balance at
  December 31, 1996    $150,000   13,546,121   (543,959)   67,494,437   (22,197,306)  58,449,293
Net earnings                                                1,359,482                  1,359,482
Cash dividends
   ($0.18 per share)                                       (2,355,288)                (2,355,288)
Stock options
   exercised, net
   (770 shares)                        8,068                                 (8,316)        (248)
Equity adjustment
   from foreign
   currency
   translation                                  (25,490)                                 (25,490)
                       --------   ----------   --------    ----------   -----------   ----------
Balance at
   March 31, 1997      $150,000   13,554,189   (569,449)   66,498,631   (22,205,622)  57,427,749
                       ========   ==========   ========    ==========   ===========   ==========

</TABLE>
























See accompanying notes to consolidated financial statements and management's
discussion and analysis of financial condition and results of operations.


                                    Page 4

                         LabOne, Inc. and Subsidiary
                    Consolidated Statements of Cash Flows
                                                 Three months ended March 31,
                                                        1997         1996
                                                     ---------     ---------
Cash provided by (used for) operations:
   Net earnings                                    $ 1,359,482       219,345
   Adjustments to reconcile net earnings
       to net cash provided by operations:
     Depreciation and amortization                   1,095,726       969,736
     (Gain) loss on disposal of property
          and equipment                               (103,047)       98,752
     Provision for deferred taxes                      (81,412)     (178,941)
     Change in short term trading portfolio, net    14,470,751      (295,160)
   Changes in:
     Accounts receivable                            (2,320,513)     (210,978)
     Inventories                                      (598,343)     (220,577)
     Prepaid expenses and other current assets         457,862       407,435
     Accounts payable                                  150,669      (432,115)
     Income taxes payable                              800,302       241,742
     Payable to Seafield Capital Corporation             8,889       (48,667)
     Accrued payroll & benefits                       (215,525)       (7,847)
     Accrued expenses                                  119,860       (25,674)
     Other current liabilities                           1,033        19,882
                                                    ----------    ----------
        Net cash provided by operations             15,145,734       536,933
                                                    ----------    ----------
Cash provided by (used for) investment transactions:
   Purchases of investments held to maturity        (7,713,555)   (4,385,810)
   Proceeds from maturities of investments held
      to maturity                                      732,335    11,883,041
   Property, plant and equipment, net               (1,167,229)     (317,565)
   Acquisition of intangible assets, net            (4,120,605)         -   
   Other                                                 -             8,600
                                                    ----------    ----------
        Net cash provided by (used for)
        investment transactions                    (12,269,050)    7,188,266
                                                    ----------    ----------
Cash provided by (used for) financing transactions:
   Issuance of treasury stock, net of proceeds
     from the exercise of stock options                   (248)        9,746
   Cash dividends                                   (2,355,288)   (2,349,985)
                                                    ----------    ----------
        Net cash used for financing transactions    (2,355,536)   (2,340,239)
                                                    ----------    ----------
Effect of foreign currency translation                 (12,678)       (3,848)
                                                    ----------    ----------
        Net increase in cash and cash equivalents      508,466     5,381,112
Cash and cash equivalents - beginning of period      3,613,454     2,993,128
                                                    ----------    ----------
Cash and cash equivalents - end of period          $ 4,121,920     8,374,240
                                                    ==========    ==========
Supplemental disclosures of cash flow information:
   Cash paid during the period for:
      Income Taxes                                 $   221,022        83,781
                                                    ==========    ==========

See accompanying notes to consolidated financial statements and management's
discussion and analysis of financial condition and results of operations.
                                   Page 5



                         LabOne, Inc. and Subsidiary

                  Notes to Consolidated Financial Statements

                           March 31, 1997 and 1996


The accompanying consolidated financial statements include the accounts
of LabOne, Inc. and its wholly-owned subsidiary Lab One Canada Inc. (a
Canadian corporation).  All significant intercompany transactions have
been eliminated in consolidation.

The financial information furnished herein is unaudited; however, in the
opinion of management, it reflects all adjustments which are necessary to
fairly state the Company's financial position at March 31, 1997, and
December 31, 1996, and the results of its operations and cash flows for
the periods ended March 31, 1997 and 1996.  The financial statements have
been prepared in conformity with generally accepted accounting principles
appropriate in the circumstances, and included in the financial statements
are certain amounts based on management's estimates and judgments.

The financial information herein is not necessarily representative of a
full year's operations because levels of sales, capital additions and
other factors fluctuate throughout the year.  These same considerations
apply to all year-to-year comparisons.  See the Company's Annual Report
on Form 10-K for the year ended December 31, 1996, for additional
information not required by this report Form 10-Q.

The weighted average shares includes the common stock equivalents of
stock options.

In February 1997, the Financial Accounting Standards Board issued Statement
No.128, "Earnings Per Share" which revises the calculation and presentation 
provisions of Accounting Principles Board Opinion 15 and related 
interpretations.  Statement No. 128 is effective for the Company's fiscal year 
ending December 31, 1997.  Retroactive application will be required.  The 
Company believes the adoption of Statement No. 128 will not have a significant 
effect on its reported earnings per share.

Effective January 30, 1997, LabOne acquired certain assets, inventory and
customer lists, of GIB Laboratories, Inc., a subsidiary of Prudential 
Insurance Company of America, for $4.6 million.  Concurrently, Prudential's 
Individual Insurance Group made a multi-year commitment to use LabOne as its 
exclusive provider of risk assessment testing services.  The acquisition was 
accounted for using the purchase method.  Accordingly, the purchase price was 
allocated to assets acquired based on their fair values.  The total cost in 
excess of tangible net assets acquired was $4.1 million and is being 
amortized on a straight-line basis over 15 years.









                                   Page 6


ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS.

RESULTS OF OPERATIONS
---------------------

Selected financial data:
                                  Three months ended March 31,   % Increase
                                      1997              1996               
                                   -----------     -----------     --------
   Sales                          $ 17,739,985      13,277,845        34%
   Net earnings                      1,359,482         219,345       520%
   Earnings per common share           $0.10            0.02
   Cash dividends per common share     $0.18            0.18

The Company provides high-quality laboratory services to insurance companies,
physicians and employers.

LabOne provides risk-appraisal laboratory services to the insurance industry.
The tests performed by the Company are specifically designed to assist an 
insurance company in objectively evaluating the mortality and morbidity risks 
posed by policy applicants.  The majority of the testing is performed on
specimens of individual life insurance policy applicants.  The Company also
provides testing services on specimens of individuals applying for individual 
and group medical and disability policies.

LabOne's clinical testing services are provided to the healthcare industry to
aid in the diagnosis and treatment of patients. LabOne operates only one
highly automated and centralized laboratory, which the Company believes has
significant economic advantages over other conventional laboratory 
competitors.  LabOne markets its clinical testing services to the payers of
healthcare--insurance companies and self-insured groups.  The Company does
this through Lab Card(TM), a Laboratory Benefits Management (LBM) program.

The Lab Card Program provides laboratory testing at reduced rates as compared
to traditional laboratories.  It uses a unique benefit design that shares the
cost savings with the patient, creating an incentive for the patient to help
direct laboratory work to LabOne.  Under the Program, the patient incurs no
out-of-pocket expense when the Lab Card is used, and the insurance company or
self-insured group receives substantial savings on its laboratory charges.

The Company's Lab Card program covered approximately 1.2 million lives as of
March 31, 1997, including The Guardian Life Insurance Company of America (The
Guardian) and Principal Healthcare of Kansas City (Principal).  Additionally,
LabOne had a signed backlog of approximately 300,000 additional lives to be
covered by the program.

LabOne is certified by the Substance Abuse and Mental Health Services
Administration (SAMHSA) to perform substance abuse testing services for
federally regulated employers and is currently marketing these services
throughout the country to both regulated and nonregulated employers.  The
Company's rapid turnaround times and multiple testing options help clients
reduce downtime for affected employees and meet mandated drug screening 
guidelines.




                                   Page 7

Effective January 30, 1997, LabOne acquired certain assets, including customer
lists, of GIB Laboratories, Inc., a subsidiary of Prudential Insurance Company
of America.  Concurrently, Prudential's Individual Insurance Group agreed to
use LabOne as its exclusive provider of risk assessment testing services.  At
the time of the purchase, GIB served approximately 5% of the insurance
laboratory testing market.

FIRST QUARTER ANALYSIS

Net sales increased 34% in the first quarter 1997 to $17.7 million from $13.3
million in the first quarter 1996 due to increases in both the insurance and
healthcare segments.  Insurance segment revenue increased to $14.4 million
during the first quarter 1997 as compared to $11.7 million in the same quarter 
last year.  The increase was due principally to the addition of GIB
Laboratories' client base, other market share gains, and an increase in oral 
fluid testing on applicants applying for smaller face-amount policies.  The 
total number of insurance applicants tested in the first quarter 1997 
increased by 22% as compared to the same quarter last year.  Average revenue 
per applicant declined 3% during the same periods.  Insurance kit and 
container revenue increased due primarily to an increase in the number 
of blood and oral fluid kits sold.  Healthcare revenue increased from $1.6 
million in the first quarter 1996 to $3.3 million in 1997 due to increases in 
substance abuse and diagnostic testing volumes.

Cost of sales increased $2.0 million (26%) in the first quarter 1997 as
compared to the prior year, primarily due to increases in supplies and 
payroll.  Insurance kit supplies increased due to the increased volume of kits 
sold.  Laboratory supplies and payroll expenses increased due primarily to the 
increase in specimen volumes tested.  Healthcare cost of sales expenses were 
$3.3 million as compared to $2.2 million in the first quarter 1996.

As a result of the above factors, gross profit for the quarter increased from 
$5.8 million in 1996 to $8.3 million in 1997.  Healthcare gross profit 
increased to $36,000 in the first quarter 1997 from a loss of $0.6 million in 
the first quarter 1996.

Selling, general and administrative expenses increased $0.6 million (11%) in 
the first quarter 1997 as compared to the prior year due primarily to 
increases in payroll expenses, bad debt accruals and use taxes due to a refund 
recorded in 1996.  These were partially offset by a decrease in consulting and 
severance expenses.  Healthcare overhead expenditures during the first quarter
1997 were $2.4 million as compared to $1.7 million in 1996, primarily due to
an increase in allocated overhead and growth in the healthcare segment 
payroll.

Operating income increased from $15,000 in the first quarter 1996 to $1.9 
million in 1997.  The insurance segment operating income increased $2.0
million.  The healthcare segment operating loss increased from $2.3 million in 
the first quarter 1996 to a loss of $2.4 million in 1997 due in part to a $0.3 
million increase in corporate overhead allocations.  Corporate overhead 
allocations to the healthcare segment increased due to the significant rate of 
growth in healthcare segment revenue.

Non operating income increased $0.1 million due primarily to gains on 
equipment disposals, partially offset by lower investment income.

The effective income tax rate declined from 43% in 1996 to 41% in 1997 due to
exit taxes on the intercompany dividend from the Canadian subsidiary in 1996.

                                   Page 8

The combined effect of the above factors resulted in net earnings of $1.4 
million or $0.10 per share in the first quarter 1997 as compared to $0.2 
million or $0.02 per share in the same period last year.

FINANCIAL POSITION, LIQUIDITY AND CAPITAL RESOURCES

LabOne's working capital position decreased by $5.3 million to $33.5 million 
at March 31, 1997, from $38.8 million at December 31, 1996.  This decrease is
primarily due to dividends paid, and the purchase of GIB laboratory assets and
customer lists.  Net trade accounts receivable increased 24% over the balance
at December 31, 1996 primarily due to increasing sales in February and March, 
1997.

Net additions to property, plant and equipment and intangibles were $5.3
million in the first quarter 1997 as compared to $0.3 million in 1996.  The 
increase is primarily due to the purchase of the assets and customer lists of
GIB Laboratories.  The total number of shares of stock held in treasury at 
March 31, 1997, was approximately 1.9 million shares at a total cost of $22.2 
million, or $11.60 per share.

In February 1997, LabOne's Board of Directors declared the regular quarterly 
dividend of $0.18 per common share.  This dividend was paid on March 4, 1997,
to stockholders of record as of February 25, 1997, and totaled approximately 
$2.4 million.  The board will review the dividend payment policy on a periodic
basis.  There are currently no restrictions that would limit the Company's
ability to make future dividend payments.

The Company had no borrowings in the first quarter 1997.  The Company expects
to fund operations, capital additions and future dividend payments from a
combination of cash reserves and cash flow from operations.  At March 31,
1997, LabOne had total cash and investments of $25.0 million as compared to
$31.9 million at December 31, 1996.


PART II.  OTHER INFORMATION

Item 6. -  Exhibits and Reports on Form 8-K

   (a)   Exhibits 

27.   Financial Data Schedule - as filed electronically by the 
      Registrant in conjunction with this first quarter 1997 Form 10-Q.

   (b)   Reports on Form 8-K

A Form 8-K current report dated January 30, 1997, was filed with the 
Commission reporting under Other Events the acquisition by LabOne of certain
assets, including customer lists of GIB Laboratories, and the agreement by 
Prudential Insurance Company of America to use LabOne as its exclusive 
provider of risk assessment testing services for its Individual Insurance
Group.








                                   Page 9


                               SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.



      LabOne, Inc.


      Date:  May 13, 1997     By  /s/ Kurt E. Gruenbacher
                                  Kurt E. Gruenbacher, V.P. Finance and CAO



      Date:  May 13, 1997     By  /s/ Robert D. Thompson
                                  Robert D. Thompson, Executive V.P. Finance,
                                  CFO and Treasurer





































                                   Page 10