Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Tim McHugh – William Blair & Company.
Tim McHugh – William Blair & Company
I wanted to ask about the Legal Consulting segment, in particular the V3locity business was very strong there and it seemed like as reflected in the average revenue for FTE that the pricing was very strong over the productivity spiked up a little bit relative to the last few quarters. I was wondering if you could give some more color on that?
Gary E. Holdren
Well Tim I think as we’ve sort of told everyone is that we were – V3locity is a new product and we explained to people that we were in the early stages of it. We’ve talked to people about throughput through the factory and I think what we’re seeing is, we had some big jobs and then also assume some of that efficiency starting to come through on operating results.
Tim McHugh – William Blair & Company
So you would expect that relatively speaking that that would be a sustainable level of productivity?
Gary E. Holdren
Well I think that there’s a couple of things going on there. One is that we had a real big job in there. I mean we had big jobs in there, they’re there for a while, people can get more efficient on those jobs. But I think there’s a combination of factors. Size of jobs, and just the nature of – just think about it.
If you have a job that goes four months and it’s the same subject matter, people are going to get more efficient on the documents and the process. But I would say, having said that, we do expect that we’ll continue to see good utilizations and our pricing will be good, and we’ll continue to – now I don’t know if it will stay at that level in Q4 and beyond, but we’ll see good results.
Tim McHugh – William Blair & Company
You highlighted some of the areas that you thought would benefit from the current macro environment but you also mentioned obviously that there’s some projects that could be delayed. I was wondering if you could talk a little bit more about what areas you would expect the most risk is in in the business for that sort of issue?
Gary E. Holdren
If you look at the general counsel, they decided they don’t want to put in a new matter management system you could have some there and I think you could also have some just in the higher end if the university decides they’re not going to put in a system or something. We don’t think it’s a very dramatic thing because we look at most of our businesses, we think that the key business should start soon from events, but it hasn’t.
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