By Paring Back Pay and People, Firms Held the Line on Profits
2009 Financial results for Keith Wetmore’s MoFo and seven other Northern California firms are in. The verdict: Slight revenue declines for most, but some improvement in profits thanks to aggressive layoffs.
2009 Revenue and Profits at Selected California Firms
| Firm Lawyers/Equity Partners/Nonequity Partners |
2009 Gross Revenue | % Change from Prior Year | Revenue per Lawyer | % Change from Prior Year | Profits per Equity Partner | % Change from Prior Year |
|---|---|---|---|---|---|---|
| Gibson Dunn 983/284/28 |
$995,143,858.00 | 4.0% | $1,012,395.00 | -2.4% | $1,905,740 | -2.4% |
| Irell & Manella 199/65/0 |
$253,000,000.00 | 9.5% | $1,273,725.00 | 9.6% | $2,490,718 | 27.0% |
| Latham & Watkins 1880/444/131 |
$1,821,000,000.00 | -5.0% | $969,000.00 | 6.0% | $1,902,000 | 5.0% |
| Loeb & Loeb 287/51/103 |
$239,772,000.00 | -1.2% | $836,000.00 | 1.0% | $1,486,000 | 1.3% |
| Manatt, Phelps & Phillips 327/58/126 |
$261,400,000.00 | -1.1% | $799,388.00 | 8.9% | $1,100,000 | 18.8% |
| O’Melveny & Myers 861/218/28 |
$826,557,000.00 | 8.9% | $960,000.00 | -1.0% | $1,470,000 | -4.2% |
| Paul Hastings 917/193/68 |
$889,000,000.00 | -9.8% | $969,466.00 | 4.4% | $1,873,057 | -1.4% |
| Quinn Emanuel 398/77/44 |
$419,199,755.00 | -5.1% | $1,053,266.00 | -4.7% | $3,132,498 | -6.1% |
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