Stevens & Lee was able to increase its gross revenue by 5 percent in 2010 despite seeing a 2 percent drop in headcount and a 7 percent drop in billable hours. The firm was also able to increase profits per equity partner (PPP) 10.5 percent, pushing it to the $1 million mark for the first time.

The firm’s revenue rose from $108.6 million in 2009 to $114 million in 2010, thanks to what firm President Ernie Choquette said was a validation of its business model.