March 1, 2012 6:28 PM
The Am Law 100, the Early Numbers: Profits Rise as Revenue Falls at Nixon Peabody
Posted by Irene Plagianos
Nixon Peabody saw its gross revenue drop 3.5 percent to $422.5 million last year, while profits per partner rose 5.2 percent to $705,000, according to reporting by The American Lawyer.
The uptick in profits came as Nixon's equity partnership declined 7.9 percent, from 190 in 2010 to 175 in 2011. The firm's net income, meanwhile, dipped 3.1 percent to $123 million, and revenue per lawyer remained steady at $675,000.
Contacted for comment on the firm's financial performance in 2011, Nixon managing partner and CEO Andrew Glincher said in a statement: "We are pleased with our results for fiscal year 2011. Despite the challenging economy, the profitability and strength of our business improved."
This report is part of The Am Law Daily's early coverage of 2011 financial results of The Am Law 100/200. Final rankings and full results for The Am Law 100 will be published in The American Lawyer's May 2012 issue and on AmericanLawyer.com. The Am Law Second Hundred will be published in the June issue. An interactive chart of the financial results reported so far is available here. The chart will be updated as additional data is reported.Make a comment