Blank Rome saw a 3.4 percent dip in gross revenue in 2010 but managed a 6 percent rise in profits thanks in part to its prepayment of 2010 expenses out of 2009 profits, the firm said.
Blank Rome’s gross revenue dipped from $322 million in 2009 to $311 million in 2010. Co-chairman Alan Hoffman said the firm prepaid about $12 million of 2010′s expenses because it knew revenue would be hard to come by last year. The firm had a number of cases that were settling in the beginning of 2010 and a minimal amount of contingency fees expected for the year, he said.
