LR Analysis runtime error: Not enough storage is available to process this command.

Hi,
We get this error (snapshot attached) while trying to generate the LR Reports using HP LR Analysis tool.

It doesnt stop us right there. But it takes atleast 20 repeated click for the same message and it completes report generation.

I need your help determining which direction I should start looking at.

Or if someone has already faced this issue, then what is the remedy for it?

NOTE:
1. there is plenty of storage space available on the disk
2. Enough paging space is available
3. No other program run while Analysis is running
4. CPU utilization never reaches 100% while we get this error.

Any help is appreciated!

Thanks,
Pramod