Report timeout

I am working on a new install of BPC 10 NW. I just attempted my first report and recieved an error

MDX statement error:"Error occurred when starting the parser: timeout d"

Does this indicate my install is broken? It is meant to be the latest version of BPC so I would have thought by now it was stable enough to run a simple report. Has anyone else had this problem? If so, how did you fix it?

Thanks

Cliff