Lawyer Net Income …
2011
Net income was up 7.4 percent in 2010 at Thompson & Knight, but gross revenue declined by 11.2 percent compared to . Gross revenue dipped in 2010 primarily because the Dallas-based firm ended its alliance with Brazilian firm Tauil & Chequer in late 2009, which reduced the firm’s Lawyer Victoria count by about 70 lawyers, says Jeffrey Zlotky of Dallas, the firm’s managing partner. “We are now maybe a smaller, but certainly more focused law firm, and had great success in revenue per Lawyer Victoria in 2010 and great success in 2010 in profits per partner,” he says. Average profits per partner were $948,000 in 2010, and average revenue per Lawyer Victoria came in at $623,000. PPP and RPL are calculated using a full-year average FTE (full-time equivalent) of 319 lawyers and 90 equity partners. (The 2010 PPP and RPL can’t be compared to 2009 numbers reported in Texas Lawyer Victoria ’s , because those were calculated using Aug. 31, 2009, Lawyer Victoria counts.) Zlotky says 2010 was an outstanding year and energy work, specifically in the oil and gas area, was very strong. “Whether that was the international oil and gas, or U.S.-based oil and gas, or corporate lawyers or tax lawyers, our firm has a great presence in the oil-and-gas industry. That propelled us in 2010,” he says. The firm has offices in Austin; Dallas; Fort Worth; Houston; New York City; Algiers; London; Mexico City; Monterrey, Mexico; and Paris.
