Hi Dhanvir - the error is with exporting your audio for analysis:

"Error compiling movie.

I/O Error.

Exporter returned bad result.

Writing with exporter: MP3

Around timecode: 00:00:00:00

Component: MP3 of type Exporter"

This export process is completely handled by Premiere rather than by FireCut so the problem is either in your current project (your source audio file is of an invalid format, etc.) OR your Premiere installation is broken.

So I'd suggest trying it on a different project (if that fixes it, then it's a problem with your source audio -- try to convert it to a different file format and import that new version into your project), or reinstalling Premiere Pro.

Cheers.