Question-and-Answer Session
Operator
(Operator instructions) The first question comes from the line of Tim McHugh with William Blair and Company. Please proceed.
Tim McHugh – William Blair and Company
Yes. Just want to touch on some of the comments you made about the improvement you've seen in the Financial Consulting segment. I know you said you're at the midpoint of your guidance still assumes flat year-over-year, at the low point, what would that assume? As well as can you give us any sense for the magnitude of the improvement that you've seen going into the second quarter here?
Gary Holdren
Yes, I think, Tim, the magnitude that we see now, if we didn't see any more, we probably would be somewhere, maybe still $10 million short or so. I think if we see somewhere, if we just got what we see now, maybe $120 million, we'd still be short. But we've seen some substantial improvement.
Tim McHugh – William Blair and Company
So if you based on the projects you've won so far, and if you didn't win anything else, you'd feel comfortable with the $120 million annual run rate?
Gary Holdren
Well, we still got to replace and just like the Consulting business, this is a sort of win and-replace, but based on what we feel that we see in the improvement in pickup of jobs we know we've won. We still need to win more work to get to the midpoint.
Tim McHugh – William Blair and Company
Okay. And then within the Legal Consulting, I know in the past, you've talked about for the V3locity product specifically, kind of $90 million or so as a rough annual run rate that you're hoping for this year. To get to that at this point, you would need essentially three quarters that were similar to the very strong third quarter you had last year. Is that still a range that you're thinking about for that segment? And can 2Q rebound that quickly to a level like that given the wins you've had?
Gary Holdren
Well, Q2 will rebound. We still do believe that we've got people in seats today. And based on what everything we've seen, Tim, and then we reforecast the business; we still believe that we can come close to hitting that number.
Tim McHugh – William Blair Company
Okay. And then lastly, the strength in Stockamp, can you talk about, were there any large engagements or large incentive fees or are they just continuing to grow the number of engagements given the demand in the firm?
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