Dickstein Shapiro faced its worst year in more than a decade after contingency cases didn’t pull in income and the firm restructured, the firm’s chairman, James Kelly, said in an interview this week. Kelly called 2013 an “investment year.”
Gross revenue declined by $51 million to $207.5 million in 2013, a 20 percent drop. Net income fell even further, by almost 35 percent, from $55 million in 2012 to $36 million in 2013. That number is the lowest operating income Dickstein has reaped since prior to 1998, its first year on the Am Law 200 annual survey of the highest-grossing firms.
