Willkie Farr & Gallagher has posted its financial results for 2008, with the firm reporting its first drop in revenue and profits for seventeen years.Despite the falling figures, the US firm has managed to keep its profits figure above $2m, with PEP falling by 5.4% to $2.1m (£1.48m). The firm saw gross revenue fall by 3.2% to $583.5m (£410m) in 2008, while revenue per lawyer also decreased by 5% to $1m (£703,000).Firm chairman Jack Nusbaum said: "We have had seventeen consecutive years of increasing revenue and net income before [last] year. It is hard to characterise a decline as okay, but in this environment it is okay."
February 03, 2009 at 05:14 AM
1 minute read
The original version of this story was published on Legalweek
Willkie Farr & Gallagher has posted its financial results for 2008, with the firm reporting its first drop in revenue and profits for seventeen years.
Despite the falling figures, the US firm has managed to keep its profits figure above $2m, with PEP falling by 5.4% to $2.1m (£1.48m). The firm saw gross revenue fall by 3.2% to $583.5m (£410m) in 2008, while revenue per lawyer also decreased by 5% to $1m (£703,000).
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