Revenue and profits fell slightly at Kaye Scholer last year because of a slowdown in transactional work during the last quarter, according to managing partner Michael Solow.

The firm reported a 1.3 percent decline in gross revenue in 2015, to $370 million, while profits per partner shrank 2.1 percent, to $1.38 million. Revenue per lawyer was down 2 percent, to $1 million.