Intercede shares rallied on Tuesday after the company announced it had received a $4.3 million order from the U.S federal government.

The company said the order includes software licenses as well as annual support and maintenance services.

It specified that $2.05 million of the funds which will be recognised in the financial year to March-end, which is set to be revealed in its upcoming full-year results.

As a result, Intercede said it expects revenues for the year to be in excess of £10 million, ahead of market expectations.

The figure is set to be approximately 10% higher than the year before.

Intercede attributed the growth in profits to a series of contract wins in the U.S, Europe and South-East Asia.

The firm added that as of the end of the March, gross cash balances remained unchanged from the year ago at £3.2 million.

Its full-year results are expected to be announced in June.

Intercede is a cyber security firm that provides services for governments, financial institutions and the military and police.

The company operates from offices both in the U.S and the U.K.

Some of the businesses it provides services for include the U.S. Department of Homeland Security, Airbus, Boeing, Coutts and Swedbank.

It was founded back in 1992 and is listed on the London Stock Exchange.

Shares in Intercede (LON:IGP) are currently +77.27% as of 13:24PM (GMT) on the back of the trading update.