I should have done a little bit more research before replying the first time.  
google returns references to the Troubleshooting guides related to that error - 
I would recommend that you do check the current semaphore settings to make sure 
they are adequate. 


 It's also not clear what the behavior is - i.e. do you start the processes and 
ltid runs for a while and then returns the error (in which case a reboot 
probably will not help) or does it simply not start (in which case a reboot 
probably will help).


Then for reference - the following from the troubleshooting guide:

Device Management Status Code: 32
Message: Error in getting semaphore
Status Codes
436 NetBackup Troubleshooting Guide
Explanation: An attempt was made by ltid (the Media Manager device daemon on
UNIX or the NetBackup Device Manager service on Windows) to obtain a semaphore
used for arbitrating access to shared memory, and the request failed due to a 
system error.
The error probably indicates a lack of system resources for semaphores, or 
mismatched
software components.
Recommended Action:
1. Examine command output (if available), debug logs, and system logs for 
messages
related to the error. Enable debug logging by creating the necessary
directories/folders. Increase the level of verbosity by adding the VERBOSE 
option in
the vm.conf file and restarting ltid (the device daemon on UNIX or NetBackup 
Device
Manager service on Windows).
2. On UNIX servers, gather the output of the ipcs -a command to see what 
resources
are currently in use. Check the installed software components and verify that 
they are
all at a compatible release version.


For reference - the solaris 8 and 9 minimums kernel parameters for netbackup 
are in Sun Document ID: 73373  and NetBackup technote id 238063  
-http://seer.support.veritas.com/docs/238063.htm

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