February 17, 2011 11:01 AM
The Am Law 100: It's Back to 2008 at Latham & Watkins
Posted by Michael D. Goldhaber
Latham & Watkins on Thursday announced 2010 gross revenue of $1.929 billion, up nearly 6 percent from 2009, and roughly equivalent to its 2008 gross. Revenue per lawyer rose nearly 7 percent to just under a million dollars ($998,964), and profits per partner rose 4.5 percent to $1,993,348. On all three measures, last year lagged behind 2007, when revenue topped out at $2.005 billion.
"Coming into the year we viewed it as a still quite choppy economy," says firm chairman Robert Dell. "We were pretty comforted to grow demand for our services by $100 million. That was at the higher end of our expectations."
The firm's big deals of the year included the $9.6 billion acquisition by client Vedanta Resources of Cairn Energy's oil and gas unit, and the sale by client Repsol of a $7.1 billion Brazilian stake to Sinopec.
Among the year's high points in litigation, Latham scored complete wins on behalf of Marvell Semiconductor in a trade secrets trial, and on behalf of Danish drugmaker H. Lundbeck A/S in an antitrust trial.
This report is part of The Am Law Daily's ongoing Web coverage of 2010 financial results of The Am Law 100/200. Results are preliminary. Final rankings and full results for The Am Law 100 will be published in The American Lawyer's May 2011 issue and on AmericanLawyer.com. The Am Law Second Hundred will be published in the June issue.
Results for the 2010 fiscal year reflect a change in the survey methodology. Per-lawyer and per-partner results for 2010 are based on a full calendar year average FTE head count, while published results for previous years were, in most cases, based on an August 31 FTE head count. When possible, we have recalculated fiscal year 2009 numbers to reflect the change in head count and based percentages on those adjusted numbers.Make a comment