Covington & Burling saw another steady year of growth in 2012, posting a 6.4 percent jump in gross revenue and a 5.4 percent increase in profits per partner, according to our reporting. Firm chair Timothy Hester said that it was an especially good year for the firm's litigation, corporate and transactional, and life sciences practices.
The firm's gross revenue grew from $611 million in 2011 to $650 million last year. Net income increased by 9.4 percent and crossed the $300 million mark, growing from $275.5 million in 2011 to $301.5 million last year. Revenue per lawyer went up by 1.7 percent, from $865,000 in 2011 to $880,000 last year.
"I think it reflects the ongoing strategic plan that we've had in place for a number of years where we've been focused on solid steady growth in the firm and focused on some of the things that we believe we're doing exceptionally well in terms of practice areas," Hester said. "Our very strong patent litigation, insurance, white collar and products liability practices were all up last year."