DLA Piper overcame flat revenues to post record profits in 2014, according to reporting by The American Lawyer.
The firm’s gross revenue last year remained at $2.481 billion. Despite this, and a second consecutive drop in total lawyer head count, which fell by 260 attorneys to 3,702, DLA Piper’s net income rose by more than 10 percent, to a record high of $667 million. This increased efficiency pushed the firm’s profit margin from 24 to 27 percent—its highest since 2008—while average profits per equity partner rose 12.5 percent, to $1.49 million, another firm record. At the same time, revenue per lawyer climbed 7.2 percent, to $670,000 from $625,000.
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