Firm also reports strongest ever first quarter revenue

Cisco increases IoT development with new partner and Innovation Center

Cisco has announced that it is partnering with Toshiba to work on IoT offerings and opening a new Internet of Everything Innovation Center in Tokyo.

The firm’s partnership with Toshiba will bring together Cisco’s Fog Computing network environment with Toshiba’s endpoint management technology.

The new Innovation Centre will include an R&D lab for rapid prototyping of solutions for specific industries and customers. In addition to the testing and development lab, Cisco will demonstrate IoE in action by showcasing partner solutions.

Cisco has previously opened IoE Innovation Centers in London, England; Barcelona, Spain; Rio de Janeiro, Brazil; Songdo, South Korea; Berlin, Germany; and Toronto, Canada. The firm aims to invest $20 million over the next 10 years into the Tokyo center.

Cisco has also revealed its first quarter results for the period ended October 25th, 2014. The firm reported first quarter revenue of $12.2 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.8 billion or $0.35 per share, and non-GAAP net income of $2.8 billion or $0.54 per share.

"We are pleased with our results and are very comfortable in our strategy to deliver innovative solutions which enable the next generation of IT and the Internet of Everything. This was our strongest Q1 ever in terms of revenue, non-GAAP operating income, and non-GAAP EPS," stated Cisco chairman and CEO John Chambers.

"We continue to make progress towards becoming the #1 IT company in the world. We are still in a tough environment, but seeing encouraging trends as cities, businesses, governments and schools are becoming more digitised. Our solutions continue to drive positive outcomes and enable productivity through the combination of collaboration, mobility, security and efficiency across our customers’ businesses."

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