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Revenues Up, PPP down at Perkins Coie
Perkins Coie reported that its profits increased to $433 million or 2.06%, in 2009, but profits per equity partner decreased a quarter of a percentage to $802,111. Revenue per lawyer also declined to $646,295 or 1.28%. Real estate and transactional business declined but managing partner Robert Giles believes the firm had a “flat year” offset by a great deal of activity in its litigation and intellectual property practice. Giles also believe that cost cutting helped the firm. 8% was cut from the firm’s budget by delaying technology and infrastructure upgrades, allowing staff to reduce their work hours and laying off 12 attorneys and staff members in April.
Founded in 1912, Perkins Coie is a Seattle based firm with 700 attorneys. The firm has 15 offices internationally including Chicago, Los Angeles, Washington, D.C., Beijing, Denver, Shanghai, San Francisco, Portland, Phoenix, Menlo Park, Madison, Boise, Bellevue, and Anchorage.Revenues Up, PPP down at Perkins Coie by sara