Litigation-only firm Beirne, Maynard & Parsons saw growth in gross revenue and net income for 2010. The firm had gross revenue of $43.5 million, an increase of 7.4 percent compared to $40.5 million in 2009. The firm’s 2010 net income of $14.2 million was up 6 percent from the $13.4 million it posted in 2009. “It was a busy year compared to 2009 and 2008,” says Martin D. Beirne, chairman of the Houston-based firm’s executive committee. Average profits per partner were $888,000 in 2010, and revenue per lawyer averaged $702,000. PPP and RPL are calculated using a full-year average FTE (full-time equivalent) of 62 lawyers and 16 equity partners. Beirne says last year business increased across all practice areas “with a tilt toward what was going on in the energy space.” The firm saw an increase in intellectual property activity and renewed activity in franchise litigation for some major automobile manufacturers, Beirne says. The firm’s bankruptcy practice also was busy in 2010, he says. The firm had a strong insurance win last year and did some redistricting and elections work. In 2010, the firm represented a purchaser in a $25 million bio-diesel plant deal and represented several large banks regarding their real estate loans, Beirne says. “It was one of those years that everybody likes to have.”
See “Turning the Corner: The Worst Appears to Be Over for Texas Firms“
