California firm Cooley has posted record financial results for the 2012 year. The firm’s revenue rose by 9 per cent to $617m, the second year in a row that Cooley has achieved revenue growth of at least that level.
Average profit per equity partner increased to $1.495m, a rise of almost 10 per cent, while revenue per lawyer at the west coast firm rose to $975,000.
The firm said its strong performance had been largely driven by its flagship practices nationally, particularly corporate and litigation which represent roughly half the firm’s revenue each.
Cooley is best known for venture capital, technology and emerging company work, all of which the firm said had strong years as did the contentious side the firm, which scored a number trial wins.
In terms of strategic moves Cooley opened an office in Los Angeles last July (24 July 2012) and in Shanghai in December 2011 (2 January 2012).
Cooley sources described itself as “ultra conservative in managing debt” and “debt free”, adding that it had adopted a “pay-as-you-go” mentality in its investments in and Los Angeles.
Despite noises about a focus on the London market, however, it still has no office in the UK.