Cadwalader, Wickersham & Taft on Tuesday reported a 28 percent increase in profits per partner, the firm’s first positive results since 2007.

Yet while the firm enjoyed a slight increase in net income, some of the increase in its per-partner average earnings appears attributable to a nearly 21 percent loss in the number of equity partners. Gross revenue fell nearly 10 percent, a drop that W. Christopher White, the firm’s chairman, calls “very strong in light of a steep contraction in the finance market.”