Baker & McKenzie reported Thursday that profits per equity partner at the firm jumped by 13 percent to $1.125 million for fiscal year 2010 — even as gross revenue at the 3,750-lawyer firm essentially was flat, falling 0.4 percent to $2.104 billion. While Baker’s profits reversed course from last year’s 17 percent drop, 2010 marks the second straight year of declining revenue for the firm.
Baker was able to increase profits thanks to several cost-cutting measures, including reducing capacity levels and delaying some capital expenditures.
