Busier clients and lawyers increase firm’s revenue
Troutman Sanders was the focus of an article in the February 27 Daily Report titled “Troutman bounces back with revenue jump.”
The Daily Report article stated that the firm’s revenue increased six percent to $386 million, after a two percent drop in 2010, which pushed net income up $15 million, or twelve percent, after a $2.3 million increase in 2010.
Steve Lewis, Troutman Sanders’ managing partner, stated that the revenue increases were due to busier clients and lawyers, active litigation areas and increased work for transactional lawyers. “The transactional practice significantly improved over the several years before,” he said. “It’s not back to pre-recession levels, but it’s moving in the right direction.”
Noting a dip in transactions in the fourth quarter, Lewis said the firm was “cautiously optimistic” for 2012. “We have what I would consider to be a somewhat aggressive but achievable budget,” he added.