After a bumper year in 2009 Crowell & Moring posts more modest results

After reporting one of the best financial years in its history in 2009, Crowell & Moring has seen profits and revenues fall somewhat in 2010. The firm’s gross revenues fell 3.4 per cent to $327 million, and revenue per lawyer fell 4.5 per cent to $742,000. Profits per equity partner also declined 15 per cent from $1.07 million in 2009 to $902,000 in 2010. Crowell Chairman Kent Gardiner explained that the firm had a bumper year in 2009 because of contingency fees, and said that 2010 had been a good year for the firm. “We didn’t have any big success-based fees come in, but we had a steady level of good work for our clients. We see that as a sign of the strength of the firm.”

After a bumper year in 2009 Crowell & Moring posts more modest results legaltimes.typepad.com Thu, Feb 17, 2011