After Two Years of Revenue Drops, Crowell Sees Financial Rebound
Returning to growth, Crowell reported a strong year in both base business and contingency-fee matters.
March 05, 2020 at 04:35 PM
6 minute read
Crowell & Moring returned to revenue growth in 2019, with its top line rising 8.1% to $433 million and its profit per equity partner rising 9% to $1.11 million.
Philip Inglima, chair of the Washington, D.C.-based firm, called 2019 a strong year for both the firm's base business and contingency-fee matters, many of which relate to competition, health care and representing terrorism victims in litigation.
The firm's net income rose 11.1%, from $95.9 million to $106.6 million, and head count growth in the partner ranks and firmwide was up between 2% and 3%. Inglima said he was "especially pleased" with the firm's 5.2% jump in revenue per lawyer, to $911,000, saying it made clear that the firm's lawyers weren't filling their time with low-rate work.
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