For Howrey, 2009 was a rough year. The firm's gross revenue fell from $573.2 million to $480 million, marking a decline of 16.3 percent. Revenue per lawyer dropped by 19.2 percent to $702,782. Net compensation to equity partners slid 28.3 percent to $128.6 million. And profits per partner sank from about $1.3 million to $846,053 -- a 34.9 percent drop. Firm Chairman Robert Ruyak said that as the firm enters into more alternative billing arrangements, there will continue to be fluctuations in year-to-year revenue.
Howrey's Revenue, Profits Plummet in 2009
The National Law Journal
February 23, 2010