Reed Smith saw its second straight year of revenue growth in 2011 while profits per equity partner took a dip of nearly 3 percent in a year that saw profit margins squeezed as expenses increased.
The firm’s gross revenue grew 3.7 percent from $958 million in 2010 to $993 million in 2011. Reed Smith saw an increase in demand in 2011, growing revenue and revenue per lawyer (RPL) through a larger jump in billable hours than it saw in attorney headcount.
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