Patton Boggs reported a decrease in gross revenues in 2009. In 2008 the firm’s gross revenue was $348.5 million, declining to $332 million last year. Profits per equity partner increased 3.7% to $840,000. Equity partner head count decreased by 3 lawyers to 116, while the number of lawyers increased 2.7% to 532. Managing partner Stuart Pape reported that the firm’s 2008 figures included a $20 million contingency, accounting for a portion of the boost in revenue that year. If it were removed from the report the firm’s gross revenue would have been reported as increasing by about 1% in 2009 instead of decreasing. Revenue per lawyer was also impacted by the 2008 contingency, resulting in a decline in 2009 by 7.4%, from $675,000 to $625,000.
Founded in 1962, Patton Boggs is a Washington, D.C. based firm with over 500 lawyers in 9 additional locations including New York City, Newark, Anchorage, Dallas, Denver, Northern Virginia, Doha, Qatar, and Abu Dhabi.
Posted by sara
on February 23, 2010. Filed under Home,Law Firm News,Legal News.
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