Buchanan Ingersoll's dip in revenue in 2009 was due to cost pressures from clients and a lower head count, but efficiencies gained last year helped bolster other financial metrics, the firm's new CEO said. The firm saw gross revenue fall, from $272.8 million in 2008 to $264.9 million in 2009. It kept its profit margin flat at about 22.5 percent. "There was a lot of pressure from clients to reduce their legal costs," Chief Executive Officer John Barbour said. "Practically everyone said you can't pass through rate increases."
April 01, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Buchanan Ingersoll & Rooney‘s dip in revenue in 2009 was due to cost pressures from clients and a lower head count, but efficiencies gained last year helped bolster other financial metrics, the firm’s new CEO said.
The firm saw a 2.9 percent decrease in gross revenue, from $272.8 million in 2008 to $264.9 million in 2009. It kept its profit margin flat at about 22.5 percent.
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