Warner Bros., which looked like it couldn't buy a hit for much of last year, saw its revenue drop more than 10 percent from 2005, according to Time Warner's SEC filing Wednesday. After such bombs as Poseidon, Lady in the Water, and the Ant Bully, not even hits like Happy Feet and The Departed late in the year could put the studio close to equaling its record earnings in 2005, when it released Harry Potter and the Goblet of Fire, Charlie And The Chocolate Factory, and Batman Begins. Nevertheless Time Warner was able to report a 34-percent net gain for its fourth quarter due in large measure to the sale of AOL's businesses in France and the U.K.