Intercede Group PLC (LON:IGP) saw its shares gain 10% on Wednesday after the firm revealed it has received a US$4mln order for software licences and annual support and maintenance from the US Federal Government.
The AIM-listed firm said US$2.05mln of the contract will be recognised in the financial year ended 31 March 2018.
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As a result, Intercede said its revenues for the year ended 31 March 2018 are forecast to increase by 10% to £9mln, up from £8mln a year ago, which is in line with market expectations.
The group added that, following action taken to reduce the cost base by more than 20% during the second half of the financial year, gross cash balances as at 31 March 2018 totalled £2.3m.
In afternoon trading, Intercede shares were up 10.4% at 26.5p.