Accounting firm BDO Seidman saw its revenue increase $31 million to $589 million in the fiscal year ended June 30, 2007.

That represented a 5.6 percent increase over last year's revenue of $558 million. The highest growth for BDO came in the assurance line, marking a 15.5 percent spurt in revenue. Tax also grew at a respectable 7.7 percent rate.

However, the firm's specialized services line dropped 28.2 percent in revenue compared to last year. That was after last year's 55 percent increase in that area. BDO attributed the sharp decline to the nonrecurring nature of its specialized service offerings.

BDO handled 15 initial public offerings in 2006, compared to 13 IPOs in the three previous years combined. The firm said its overall revenues have seen a 61 percent cumulative increase in the past three years.

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