Quercus announced preliminary results for the full fiscal year ending December 31, reporting £1.5 million in operating profit, a sharp dropoff from the £5.9 million reported for 2011, and revenues of £20.4 million, declining from £24.8 million the previous year. The company included a £100,000 charge to set up a new American division, which will launch this fall with 25 titles scheduled. They project “a program of 86 titles” in the US in 2014, and are readying another 150 ebooks for their backlist for US release. On the growth side, ebook sales were £6.4 million, up from £2.7 million in […]