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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