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901 New York Avenue, NW Washington, DC 20001-4413 202.408.4000 202.408.4400 [fax] www.finnegan.com
Leaders at Finnegan, Henderson say there’s no discernible difference between the firm’s financial performance in 2004 and 2005. But looking strictly at the numbers, 2005 was the year Finnegan, Henderson fell from the stratosphere. After an eye-popping showing in the D.C. 20 survey in 2004 (it ranked seventh locally), propelled by 17 percent growth in gross revenue, the firm is back on terra firma. Finnegan, Henderson’s gross revenue rose a modest 5 percent in 2005 to $194 million. Christopher Foley, the firm’s managing partner, says the sky-high growth one year followed by much more measured growth the next was a result of some large fees not being paid until early 2006. “In terms of dollars and cents there isn’t a difference. It really comes down to a timing thing,” Foley says. “Some of the cases, we did not receive a return on in 2005 until early 2006. From our perspective there’s no meaningful difference.” Foley adds that the firm, which pulls in nearly 60 percent of its business from patent prosecutions and other intellectual property matters, remains extremely profitable. He says there remains a stable of blue-chip clients that provide a steady stream of work. They include Aventis, Caterpillar Inc., Taiwanese digital-technology developer Chi Mei Optoelectronics Corp., Eli Lilly and Co., GlaxoSmithKline, cardiovascular medical-products maker Guidant Corp., and L’Oreal. Finnegan, Henderson also boasts leading attorneys in the IP industry, including partners Charles Lipsey and Michael Jakes and name partner Donald Dunner. Still, the firm lost nine lawyers from the D.C. area, and profits per partner also slipped, declining from $895,000 in 2004 to $871,000 in 2005 (though the firm added seven more equity partners in 2005). Another explanation Foley offered for 2005′s modest increase in gross revenue is Finnegan, Henderson’s investment in long-term contingency cases, something the firm had not done until recently. For the year ahead, Foley says the D.C. office is looking to add lawyers. “We’re very, very busy, and there’s no significant concerns on our end. If anything, we’re hiring as quickly as we can.” Finnegan, Henderson also is seeking to make inroads internationally. “We’re trying to strengthen our presence in the Far East,” says Foley, adding that the firm is looking at expanding its Tokyo office.
• RANKINGS •
D.C. 20 (2006)Rank by D.C. revenue: 10D.C. Revenue (2005): 194,700,000D.C. Revenue (2004): 185,000Revenue per lawyer: 890,000Profits per partner: 870,000Average Compensation All Partners: 845,000Lawyers/Equity All Partners; 219/78Firmwide Revenue (2005); 235,100,000 D.C. 20 (2005)D.C. Revenue 2004: 185,000,000D.C. Revenue 2003: 158,000,000Revenue Per Lawyer: 770,000Profits Per Partner: 895,000Average Compensation All Partners: 810,000Lawyers/Equity Partners: 228/71Firmwide Revenue 2004: 225,000,000

LT150 (2006)Rank by size of D.C. office (2005)Lawyers in Office (2006): 197Partners in Office (2006): 75Lawyers in office (2005): 195Partners in office (2005): 72Percent Change in Number of Lawyers: 1.0Associate Hires Expected 2006: 14 LT150 (2005)Rank: 23Lawyers 2005: 195Partners 2005: 72Lawyers 2004: 189Partners 2004: 73Percent Change: 3.20Associate Hires: 20

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