Business of Law
Latham’s Gross Revenue Nears $2B Again, Up 6 Percent from 2009; PPP Nears $2M
Posted Feb 17, 2011 4:43 PM CDT
By Martha Neil
Latham & Watkins income is on the upswing again.
The firm today announced that its gross revenue for 2010 was $1.929 billion, reports the Am Law Daily. That represents an increase of almost 6 percent from 2009 and puts Latham back where it was in 2008, more or less.
Meanwhile, profits per partner is up 4.5 percent to $1,993,348.
The firm still has a way to go to get back to its 2007 financial footing, however, when its revenue topped $2 billion, the legal publication notes.
Revenue per lawyer for 2010 rose 7 percent, and was just under $1 million, Legal Week reported.
"Coming into the year we viewed it as a still quite choppy economy," says firm chairman Robert Dell. "We were pretty comforted to grow demand for our services by $100 million. That was at the higher end of our expectations."
ABAJournal.com (Feb. 2009): "Partner Profits at Latham Are Down 21%, but ‘Not Too Shabby,’ Chairman Says"