Partner Profits

Gibson Dunn: Gross Revenue Up, Profits Per Partner Down, No Layoffs in Sight

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Gibson Dunn hasn’t laid off associates, didn’t freeze salaries, and paid a market bonus. The firm also took a minor hit to profits per partner. AmLaw Daily reports:

The firm reports that gross revenue rose 5.4 percent to $957 million, however other financial metrics fell, presenting a slightly more sobering picture. Gibson Dunn’s profits per partner declined 1.3 percent to $1.9 million, while revenue per lawyer dropped 4.3 percent to $1 million.

Is this an example of a partnership taking a hit in profits in order to save associate jobs?

After the jump, is Gibson Dunn hiring?


Gibson Dunn management is positively bullish about the present and the future of the firm.

For firm chairman Kenneth Doran, the mixed financial bag is a positive development. “All in all, given what is happening in the market, I am very pleased with our results,” Doran says. “I think it reflects the strength of the firm.”

With no debt and “a lean operation,” Doran asserts that the firm will be able to attract more laterals in 2009. He adds, “We think we are positioned to gain market share out of this downturn.”

I just hope they have enough staffing to handle all the extra resumes they are about to get.

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There has been a lot of trauma in California, but Gibson Dunn looks to be doing a little bit more than simply surviving.

THE AM LAW 100: Antitrust, IP Litigation Push Gibson Dunn’s Revenues Up 5 Percent [AmLaw Daily]

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