Strong Panasas sales were driven by multiple factors. International business grew significantly in 2007 and now represents close to 40 percent of sales. Sales from Panasas-authorized channel partners increased to a record one-third of overall sales, due to successful distribution partnerships with Dell, SGI and numerous international resellers. Newly established partnerships with Microsoft and industry-leading independent software vendors (ISVs) played a significant role in driving the increased acceptance of Panasas parallel storage systems. These 2007 successes will allow the company to maintain its leadership in the fast-growing parallel storage market and gain a larger market share in 2008.

"Panasas provides its customers in manufacturing, energy and government with a competitive advantage by empowering them to utilize parallel storage as a critical means to improve their time to market and time to results", stated Victor Perez, president and CEO of Panasas. "Our customers continue to respond positively to our offering as they see the clear value that our parallel storage solutions bring to their bottom line with increases in their revenue and their competitive advantage."

Panasas' outstanding growth was driven by a substantial increase in commercial business in manufacturing, energy and finance. Panasas was consistently chosen over larger competitors by companies depending on Computer Aided Engineering (CAE), seismic processing, and risk analysis applications for business-critical results, due to the superior performance, scalability, large-scale manageability and overall cost-effectiveness of Panasas ActiveSTOR parallel storage solutions. Important milestones achieved with ISVs such as Ansys, CD-Adapco, Paradigm, and Landmark demonstrate industry leaders’ high-performance offerings optimized for Panasas' PanFS parallel file system and highlight the strong adoption of parallel storage.

Additionally during 2007, Panasas was awarded two new technology patents and was again recognized in the industry with new product awards. The company now holds a total of ten patents with nine additional patents pending. Panasas announced late in 2007 that among its recent awards, the ActiveStor Parallel Storage Cluster received the the HPCWire Readers' Choice Award for Best Price/Performance in a Storage System and its Panasas Tiered Parity Architecture achieved the HPCWire Editors’ Choice award for the year’s Most Innovative HPC Storage Technology.

"The introduction of the Panasas Tiered-Parity Architecture not only provided the industry's first end-to-end data integrity checking capability, but underscores our unique ability to tackle and solve critical industry-wide problems such as data reliability and integrity caused by media failures of denser disks", stated Garth Gibson, co-founder and CTO at Panasas. “Our agenda for 2008 includes continuing to provide both industry vision and product solutions that raise the bar in scalability, reliability and manageability. Panasas will continue to help the industry accelerate the adoption of parallel storage by driving the pNFS standard, which should revolutionize the file storage industry."