Fish & Richardson offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM Fish & Richardson Saw Growth in Core Practices Despite Revenue, Profit Slump
A slow year for contingency collections contributed to the IP firm's 2.4% decline in gross revenue, firm president and CEO John Adkisson said.
March 05, 2024 at 05:10 PM
4 minute read
The original version of this story was published on The American Lawyer
What You Need to Know
- After a strong financial performance in 2022, IP specialty firm Fish & Richardson saw revenue and profitability slide in 2023.
- However, demand remained strong in core practice areas and attorney groups, with litigation leading the way.
- President and CEO John Adkisson was reelected to a second term, the firm announced on Monday.
As compared with 2022, Fish & Richardson's financial performance in 2023 represented a slight regression in most major metrics. Revenue slid 2.4%, net income was down 9.3%. The firm's profit margin fell three percentage points to 35% and realization dropped by more than 5%.
And yet, firm president and CEO John Adkisson, who was recently reelected after initially taking the helm in February 2020, said he was happy with the firm's performance last year.
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