After a year of tepid growth, following another year with a decline in gross revenue, Morrison & Foerster’s financial performance spiked to an all-time high in 2017, an outcome that chairman Larren Nashelsky attributed mostly to the firm’s investments in key practices and lateral hires.

The Bay Area-based Am Law 100 firm pulled in $1.06 billion in gross revenue last year, a 12.4 percent increase from 2016, surpassing the firm’s previous record result by more than $50 million. Revenue per lawyer at the firm jumped 11.9 percent to $1.11 million, and profits per equity partner surged 23.3 percent to $1.74 million. Net income also rose 16.9 percent to $388.8 million.