You should have the data if you performed a full backup/restore.
1) Check the condition of the backup in the dbbackup.log file on the LMS 3.2 ...\CSCOpx\log directory and confirm is completed successfully.
2) Check the restorebackup.log on the LMS 4.01 , maybe there was an issue.
3) May need to reinstall follwoing these extra instructions:
Make sure you meet these requirements:
http://www.cisco.com/en/US/docs/net_mgmt/ciscoworks_lan_management_solution/4.0/install/guide/prereq.html
If the requirements are met, do the following to prep for the install:
LMS 4.0x must be installed on a clean system with no other applications including previous versions of LMS software.
1) Make sure you use remote desktop to perform installation and not console.
2) Be a local administrator not domain administrator, ie create the
account locally and add to group administrators and remove group users
3) Log in as the local admin and then go to My Computer -> Properties ,
Advanced Tab, Environment Variables. Make sure the USER section TEMP and
TMP variables are edited to something like C:\windows\temp or C:\temp
(make sure temp exists)
4) Go to My Computer -> Properties, Advanced Tab, Performance Options ->
Advanced Tab. Make sure the page file space is set to the application
requirements (8 or 16 GB) and is Fixed (not managed by system).
5) After the uninstall of previous LMS , make sure the installation directory
is also removed \progra~1\CSCOpx
6) It is a good idea to reboot between uninstall/install
7) Stop all firewall / antivirus before install
8) EXTRACT the files, do not install while in zip format.
If you are using Windows 2008 R2 it will require a patch, windows 2008
R1 SP2 does not require this patch.
http://www.cisco.com/cisco/software/release.html?mdfid=283434800&flowid=19062&os=Windows&softwareid=280775103&release=4.0&rellifecycle=&relind=AVAILABLE&reltype=latest
Reboot after installation.
Use the same admin account to now perform the restore (assuming the backup is valid).
If this does not help, you may want to open a case.