bpbkar32 -nocont [path] > NUL fails with no output

Greetings,

I'm attempting to benchmark the performance of bpbkar32 on Windows
clients.  I'm following the documentation (Performance and Tuning Guide)
and I've successfully used this technique before yet the test is now failing
to produce results.

After executing the following:

C:\Program Files\VERITAS\NetBackup\bin>bpbkar32 -nocont C:\ > NUL

the bpbkar process terminates after ~7 seconds.

The bpbkar log shows:

5:46:07.488 PM: [2076.3976] <2> tar_base::V_vTarMsgW: FTL - catalog
write error (1)
5:46:07.488 PM: [2076.1572] <4> tar_base::V_KeepaliveThread: INF -
Keepalive Thread Terminating. Mutex:WAIT_OBJECT_0
5:46:07.488 PM: [2076.3976] <4> tar_base::V_StopKeepaliveThread: INF -
The Keepalive Thread has Exited. Wait Reason:WAIT_OBJECT_0
5:46:07.488 PM: [2076.3976] <2> tar_base::V_vTarMsgW: INF - EXIT STATUS
14: file write failed

Rather than redirect output to NUL, I've also tried using a file.  Nothing is written to it.

Regular, network-based backups are successful.

Has anyone else experienced this behavior?  Any suggestions?