By Dan DiPietro and Gretta Rusanow
A quick look at the numbers for the first three quarters of 2011 suggests there is good news for the law firm industry-and some cause for concern. Collections were strong during the third quarter, but growth in demand slowed, leading to a notable reduction in the growth of inventory-work that has been performed but not yet collected on. So as we head toward the end of the year, firms seeking gains in profitability will need to consider carefully how hard to push for collections and how many expenses for 2012 to prepay in the fourth quarter of 2011.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
