Shrewd Firms Reaped Profits In Downturn

By Leigh Kamping-Carder

Law360, New York (February 23, 2010, 7:19 PM ET) -- As law firms begin disclosing their financial numbers for 2009, experts say the industry winners grasped the scope of the economic slump early on, while the losers dragged their feet before implementing necessary changes.

In recent weeks, several dozen firms have released their preliminary financial results for fiscal year 2009 to The American Lawyer, and the publication has started comparing the figures — including profits per partner, gross revenues and attorney head count — to numbers the firms reported in 2008.

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