Heat 4 quarts salted water to boiling in large saucepan. Add penne; cook until tender. Drain.
Meanwhile, remove casing from sausage. Cook sausage in 10-inch skillet over medium-high heat until well browned, stirring to crumble. Remove sausage to paper towels with slotted spoon.
Combine ricotta cheese, tomato, TABASCO® Sauce and salt in food processor or blender; process until smooth. Toss penne with sausage, ricotta mixture, olives and chopped parsley in large bowl; mix well.
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