King & Spalding reported revenue and profit increases for the third year in a row. With double-digit increases each year in profit per equity partner, the firm almost broke the $2 million mark. Chairman Robert D. Hays said the firm billed more hours, increased the realization rate for collections and raised billing rates, adding that the raises were “rather modest” as clients remain sensitive to rate increases. Despite the financial gains, lawyer headcount increased only slightly. Hays said the firm is staying conservative about expanding. “The economy remains a challenge and we’re not planning for that to be changing any time soon,” he said. Hays added that the firm is continuing its focus on cost containment. “Doing more with less is here to stay; it’s not temporary,” he said. “There are efficiencies in the business model that are going to be permanent.” Even so, the firm continues to invest in international offices, opening a Moscow office focused on energy and corporate workits ninth international office.
Reported by Meredith Hobbs
*Comparison is to 2010 full head count.
| MONEY | ||
| Revenue | $781.5M |  8.8% |
| Revenue per lawyer | $960,000 | 6.1% |
| Profit per equity partner | $1,935,000 | 11.8% |
| LAWYERS | ||
| Total lawyers | 813 | 20 |
| **Atlanta lawyers | 332/41% |  22.2 |
| Partners | 304 | 8 |
| Equity partners | 156 | 3 |
| Atlanta size rank among firms offices | No. 1 | |
Clients
Anadarko Petroleum, Arcapita Bank, Bank of America, Capital One, Chevron USA, CitiGroup, CVS Caremark Corp., Delta Air Lines, Duke Energy Corp., Equifax, Exxon Mobile Corp., General Electric Co., Georgia-Pacific Corp., GlaxoSmithKline, Goldman Sachs, Google, Halliburton, HCA Healthcare, The Home Depot Inc., KPMG, Pfizer, RJ Reynolds, Roark Capital Group, Shell Oil Co., SunTrust Banks Inc., The Coca-Cola Co., Toyota Motor Sales USA Inc., UCB Inc., Wells Fargo, Winn Dixie
Offices*
