For the second year in a row, O'Melveny & Myers reported a decline in both revenue and profits as the firm struggled with the continuing economic downturn and client pressure on rates. The firm reported 2009 gross revenue of $826.6 million, a decline of 8.9 percent. Profits per equity partner were $1.47 million, a decline of 4.2 percent. There were some bright spots, notably in the firm's private equity finance practice and its sports and entertainment practice.
O'Melveny & Myers Sees New Decreases in Revenue, Profits
The American Lawyer
February 19, 2010