Press Releases

Jerry Walsh
WalshPR
(631) 419-9008
jerry@prwalsh.com
Monday, July 28, 2008
BDO SEIDMAN, LLP ANNOUNCES STRONG REVENUE GROWTH FOR 2008
-- FIRM ANNOUNCES GROWTH OF 11.9 PERCENT ON REVENUES OF $659 MILLION --

Chicago, IL – BDO Seidman, LLP today announced revenue for the fiscal year ended June 30, 2008, increased to $659 million, an 11.9% percent increase over last year’s revenue of $589 million. BDO Seidman’s core business lines of assurance (+7.1%) and tax (+11.2%) showed continued growth, while the firm’s BDO Consulting business line achieved unprecedented growth of 84.6 percent. Over the past four fiscal years, BDO Seidman revenues have achieved an 81 percent cumulative increase.

The firm’s assurance business line represents 62 percent of BDO Seidman’s business. The firm’s tax and BDO Consulting business lines represent 23 percent and 11 percent of revenues respectively. Other services (e.g. real estate, wealth management, software sales) account for the remaining 4 percent.

“Fiscal 2008 was another strong year for BDO Seidman. The firm experienced impressive growth across all of its business lines. BDO Consulting experienced especially strong growth driven by increased demand for the group’s anti-money laundering, e-discovery and other forensic services,” said BDO Seidman CEO Jack Weisbaum.

Other BDO Seidman Facts:

  • Clients: Founded in 1910, BDO Seidman represents companies ranging from Fortune 500 multinationals to closely-held private businesses. The firm audits eleven Fortune 1000 companies (3 in Fortune 500), by far the most of any non-Big Four firm.
  • Cumulative Growth: Over the past four years, the firm has achieved cumulative revenue growth of 81 percent.
  • SEC Growth: BDO Seidman currently has 369 SEC clients. From 2003 through 2007, the firm experienced a net gain of 150 SEC clients, far more than any other firm (Source: PAR/Audit Analytics)
  • Global Reach: As an independent member of the BDO International network (the largest outside of the Big Four), the firm can leverage the resources of more than 600 member firm offices in 110 countries around the world.

About BDO Seidman, LLP

BDO Seidman, LLP is a national professional services firm providing assurance, tax, financial advisory and consulting services to a wide range of publicly traded and privately held companies. Guided by core values including, competence, honesty and integrity, professionalism, dedication, responsibility and accountability for almost 100 years, BDO Seidman has provided quality service and leadership through the active involvement of its most experienced and committed professionals.

BDO Seidman serves clients through 37 offices and more than 400 independent alliance firm locations nationwide. As a Member Firm of BDO International, BDO Seidman, LLP serves multi-national clients by leveraging a global network of resources comprised of 621 Member Firm offices in 110 countries. BDO International is a worldwide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country.