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2003′s 10th place finisher, Sedgwick, Detert, Moran & Arnold, enjoyed a strong year, despite slipping off the chart. The 353-lawyer firm netted $41 million on gross revenue of $147 million in 2004, allowing its 60 equity partners to take home an average $680,000. Sedgwick Managing Partner Kevin Dunne said heavy commercial litigation and product liability workloads propelled healthy increases in revenue and profits. But, he said, “the biggest reason for our increase in [profit] is our decrease in expenses.” Along with moving into cheaper office space, the litigation firm saved money by reducing its secretary to attorney ratio, said Dunne. The cost savings and an increasing number of billable hours for a host of trials — Sedgwick gained 25 defense verdicts with no courtroom losses last year — offset diminishing work in environmental tort defense. But Dunne stressed that cost controls have been a key ingredient in Sedwick’s recent growth, and will continue to be a priority for the firm over the next year. “Consultants who come to see us say we run very leanly, which is what we aim to be,” he said.

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