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February 16, 2012 11:31 AM

The Am Law 100, the Early Numbers: Revenue Flat, Profits Dip at K&L Gates

Posted by Ed Shanahan

K&L Gates saw its gross revenue rise less than 1 percent and its profits per partner fall 4.3 percent in 2011 amid what chairman Peter Kalis described as a year when expenses grew at a faster rate than revenue, according to sibling publication The Legal Intelligencer.

The firm's gross revenue increased 0.6 percent to $1.06 billion last year, while revenue per lawyer grew about 0.7 percent to nearly $603,000. Profits per equity partner, meanwhile, dropped from about $930,000 in 2010 to about $890,000 last year, according to the Intelligencer.

"While a solid performance, it was a sobering reminder of the power of the marketplace," Kalis told the Intelligencer's Gina Passarella.

Read the complete Intelligencer story here.

This report is part of The Am Law Daily's early coverage of 2011 financial results of The Am Law 100/200. Final rankings and full results for The Am Law 100 will be published in The American Lawyer's May 2012 issue and on AmericanLawyer.com. The Am Law Second Hundred will be published in the June issue. An interactive chart of the financial results reported so far is available here. The chart will updated as additional data is reported.

 

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