Dallas’ Thompson, Coe, Cousins & Irons earned $37 million in gross revenue in 2010, an increase of 3.1 percent over the $35.9 million posted in 2009. The firm’s net income was $9.7 million in 2010, up 3.2 percent from $9.4 million in 2009. Thompson, Coe primarily is an insurance defense firm, and its business increases when natural disasters strike. “We were very busy, a lot of it attributable to claims arising from hurricanes,” managing partner Jack Cleaveland says of 2010. The increase in business allowed the firm to hire more staff, including attorneys, and encouraged Thompson, Coe to expand into new areas of practice, he says. “We have a subrogation practice, which is fairly new,” Cleaveland says. Containing costs for clients also is something the firm has focused on, he says. “We have been very successful in some flat-fee arrangements that have been a win-win for clients,” Cleaveland says. “It was a good year.” Average profits per partner were $294,000 in 2010 and revenue per lawyer was $294,000. PPP and RPL are calculated using a full-year average FTE (full-time equivalent) of 126 lawyers and 33 equity partners.
See ” Turning the Corner: The Worst Appears to Be Over for Texas Firms“
