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1299 Pennsylvania Ave, NW Washington, DC 20004 Phone: 202-783-0800 Fax: 202-383-6610 www.howrey.com
Watching Howrey’s financial figures feels like riding a seesaw. One year the firm’s up, the next year it’s down. Last year, Howrey was up again, but it’s never clear when, or if, the seesaw will drop once more. The firm’s Washington revenue jumped 7 percent to $183.6 million, moving Howrey up a notch to the 12th slot on the Legal Times D.C. 20 survey. But the big story was in the firm’s profits-per-partner numbers, which shot up 24 percent to $958,000. “Every practice area was up,” says Robert Ruyak, the firm’s managing partner. “We didn’t have a single lag in this past year.” But those numbers belie deeper issues at Howrey: Its productivity has slowed. Revenue per lawyer increased a mere 2 percent in Washington, slightly better than the firmwide figure, which decreased 1.5 percent. The drop came after the firm tried to boost its leverage in Washington by hiring 25 staff attorneys, whose lower pay translates into more revenue for the firm than that of associates whose salaries more closely match their billing rates. The firm also lost a number of top partners, including Marc Schildkraut, Richard Ripley, W. Neil Eggleston, Margaret Zwisler, Edward Schwartz, and Dimitri Nionakis, to local competitors. And inequity among partners at the firm remains stark, a division that continues to rankle lower-level partners. The firm’s nonequity partnership ranks, which make up about 40 percent of the total partnership, earn an average of $330,952. Still, 2005 brought in hot deals and top clients. Intellectual property was the strongest, raking in 43 percent of the firm’s revenue. Among the biggest clients was Qualcomm Inc., which Howrey defended in an IP dispute before the International Trade Commission and in the U.S. District Court of the Southern District of California. Global litigation came in second, making up 32 percent of the firm’s revenue. Howrey lawyers went to bat for Goodrich Corp. against more than 30 insurance companies in an environmental-related insurance dispute. They also defended Biovail in a securities class action currently pending in the Southern District of New York. Antitrust attorneys, though now part of the smallest practice area in the firm, kept busy with a number of second requests from government investigators handling regulatory review for mergers. One of the largest matters was the firm’s work for Whirlpool Corp., as it was regulatory counsel to the company in its $1.7 billion acquisition of Maytag Corp. Howrey also represented GE Healthcare in an arbitration involving a license agreement with Applera Corp., a biotechnology company, for royalties on certain enzymes.
• RANKINGS •
D.C. 20 (2006)Rank by D.C. revenue: 12 (shared with Akin Gump Strauss Hauer & Feld)D.C. Revenue (2005): 183,600,000D.C. Revenue (2004): 170,500,000Revenue per lawyer: 710,000Profits per partner: 960,000Average Compensation All Partners: 690,000Lawyers/Equity All Partners: 258/57Firmwide Revenue (2005): 384,300,000 D.C. 20 (2005)D.C. Revenue 2004: 170,500,000D.C. Revenue 2003: 192,800,000Revenue Per Lawyer: 695,000Profits Per Partner; 775,000Average Compensation All Partners: 605,000Lawyers/Equity Partners: 245/62Firmwide Revenue 2004; 352,000,000

LT150 (2006)Rank by size of D.C. office (2005): 13Lawyers in Office (2006): 247Partners in Office (2006): 103Lawyers in office (2005): 248Partners in office (2005): 104Percent Change in Number of Lawyers: -0.4Associate Hires Expected 2006: 18 LT150 (2005)Rank: 10Lawyers 2005: 248Partners 2005: 104Lawyers 2004: 260Partners 2004: 116Percent Change; -4.60Associate Hires: 26

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