In 2011, Bracewell & Giuliani’s gross revenue declined 3.2 percent and its net income slipped 7.6 percent. Gross revenue for the Houston-based firm was $271.5 million in 2011 compared to $280.5 million in 2010, and net income was $85.5 million in 2011 compared to $92.5 million in 2010. Mark Evans (pictured), the firm’s managing partner, says a “good bit” of the declines in those two key financial statistics can be attributed to a smaller headcount. The firm had an average full-time equivalent of 422 lawyers in 2011 compared to 440 in 2010. Revenue per lawyer was $645,000 in 2011, up 0.8 percent from $640,000 in 2010, and profits per partner came in at $1,020,000 last year, unchanged from 2010. Evans says the firm’s business was slow during the first quarter of 2011: “The pickup started in the second quarter and really got going in the middle of the summer and the last few months of the year.” He says “bright” practice areas during 2011 include energy, litigation, environmental, technology, white-collar crime defense, and for the second half of the year, finance and energy mergers and acquisitions.
-- Brenda Sapino Jeffreys
This report is part of Texas Lawyer's coverage of the 2011 financial results of the 25 highest-grossing Texas-based firms as part of the Am Law 100 and Second Hundred reports. Texas Lawyer will publish its Annual Report on Firm Finance on April 30. The American Lawyer, a Texas Lawyer affiliate, will publish full results for The Am Law 100 in May. The Am Law Second Hundred will be published in June. View an interactive chart here.