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Ballard Spahr saw mixed financial results in the final year of long-time chair Mark Stewart's tenure, ushering in newly appointed chairman Peter Michaud with steady gross revenue and an increase in revenue per lawyer despite drops in profits and income.While the firm's gross revenue remained relatively steady, increasing by 0.4% to just over $484 million, and a slight drop in head count translated into a 5.4% increase in revenue per lawyer (RPL) to $843,000, the firm's profits per equity partner (PEP) dropped by 5.3% to hit $790,000. Net income saw a 7.1% drop, a loss of about $13 million.
Pennsylvania
March 27, 2024, 1:58 PM