Will law firms’ financial results for 2017 fall short of 2016? Legal industry results through the first nine months of 2017 suggest that’s a real possibility. Revenue growth decelerated from the first half of the year, as demand declined and the collection cycle lengthened. There’s some comfort in expense growth also moderating, though margins remained compressed.
The good news is that with an unusually large buildup in accounts receivable at quarter-end, the legal industry is well set up for a strong year-end collections push.
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