After multiple years of financial growth and a record-setting 2018, Nixon Peabody’s financial performance declined in 2019, although firm management attributed the dip to a multimillion-dollar contingency fee in 2018 that added to its bottom line.

The firm’s gross revenue of $505.5 million in 2019 was a 4.7% decline from its high-water mark of $530.6 million in 2018. Net income fell 11.1% to $175.1 million.