Alston & Bird’s revenue dipped last year, and the firm shed nonequity partners, but its managing partner, Richard Hays, said the firm anticipated and budgeted for the decline after several large litigation matters concluded in 2013. Contingency fees from litigation also were down, he said, contributing less to revenue than in at least five years.
“We met and exceeded our budget profitability goal for 2014,” Hays said, adding that billable hours per lawyer increased. “We ran at a slightly faster pace than in 2013,” he said.
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