SAN FRANCISCO — Sedgwick saw net income slide 4.2 percent as gross revenue dipped 1.7 percent to $208.5 million in 2013. Revenue per lawyer was flat at $610,000. Profits per partner edged down less than 1 percent to $755,000.
Sedgwick’s Chief Financial Officer Carrie Knudsen attributed the drop in net income to the firm’s investment in new technology, such as electronic billing applications, that she said would improve long term efficiency.”We’re always spending on technology, but it just so happens that we’re spending quite a bit now to lower our overhead in the future,” she said, adding, “Our partnership is 100 percent behind it because they see the benefit over the long haul.
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