Dallas’ Strasburger & Price earned $75.9 million in gross revenue for 2010, a slight drop of .05 percent, down from $76.3 million in 2009. The firm’s net income was $26 million for 2010, down .04 percent from $26.1 million in 2009. “To me the year was basically flat to 2009 — they turned out about the same,” says Dan Butcher, Strasburger’s managing partner. While the firm’s litigation practice was steady, the firm’s bankruptcy practice was not as strong last year as it was in 2009, Butcher says. “There were other areas that were up. Some of our corporate, M&A practices [in] the fourth quarter [were] good. It was the same for the first half of the year, and then it got better,” he says. “Our fidelity and surety practice was strong as always for 2010,” Butcher adds. The firm is continuing its strategy of attracting clients by charging lower fees than larger firms. “We charge rates that are lower [than] what the national firms charge because we focus on a middle-market client base. So our average rates went up, but it went up by a small amount, not large increases,” Butcher says. Average profits per partner at Strasburger were $400,000 in 2010, and revenue per lawyer came in at $446,000. PPP and RPL are calculated using a full-year average FTE (full-time equivalent) of 170 lawyers and 65 equity partners. “We were pleased with how the year turned out and are looking forward to a better 2011,” Butcher says.
See ” Turning the Corner: The Worst Appears to Be Over for Texas Firms“
