As Squire Sanders continues its tie-up talks with another member of The Am Law 100, The American Lawyer’s reporting shows that it posted a largely flat set of financial results for 2013.
The firm’s gross revenue inched up just 0.1 percent during the last fiscal year, to a new high of $775.5 million. With revenue flat, a 2.4 percent reduction in Squire Sanders’ total attorney head count, to 1,227 lawyers, led to its revenue per lawyer rising 2.4 percent, to a three-year high of $630,000. Following a 20 percent crash in 2012, net income rebounded slightly last year, rising 0.9 percent, to $106.5 million. As a result, average profits per equity partner increased 1.3 percent, to a six-year high of $810,000. And after falling 4 percentage points in 2012, Squire Sanders’ profit margin remained at just 14 percent—the lowest it’s been since The American Lawyer began tracking the firm’s financial performance in 1985, when the figure stood at 43 percent.
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