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I think this issue was resolved in later versions of the patch - running updatemanager manually should rebuild it's directory structure, however you can use the following commands:
# mkdir -p /var/sadm/spool/cache/updatemanager/analysis.results
# chown -R root:root /var/sadm/spool/
To verify it is fixed, just run the job as per your cron entry, you should no longer get the error message.
This also helped me tremendously.