So looking forward here’s the outlook for Q2 and the full year. In the second quarter we estimate that total revenue will range from $260 million to $270 million. Within that, we anticipate that licensing revenue will range from $230 million to $240 million and products and services revenue combined would be about $30 million. We anticipate that our PC licensing revenue will decrease by 15% to 20% from last year’s Q2, mainly because of lower mix, and also worth mentioning, in the broadcast category our second quarter revenue will be down year-over-year but only because of the $25 million back payments that we received last year in Q2 that won’t repeat this year. Excluding that item, broadcast revenue should grow in Q2.
Gross margin in the second quarter is estimated to range from 90% to 91% on a GAAP basis and 91% to 92% on a non-GAAP basis. Operating expenses in the second quarter are projected to range from $171 million to $175 million on a GAAP basis, and from a $152 million to $156 million on a non-GAAP basis. Other income in the second quarter is expected to be approximately $1 million and our effective tax rate for the second quarter is estimated to range from 25% to 26% on both the GAAP and non-GAAP basis. So based on the combination of the factors I just went over, second quarter diluted earnings per share are projected to range from $0.45 to $0.51 on a GAAP basis and from $0.60 to $0.66 on a non-GAAP basis.
Moving on to the full year, we estimate that total revenue for fiscal 2015 will range from $970 million to $1 billion and within that we anticipate that licensing will range from $860 million to $880 million and products and services combined will range from $110 million to 120 million for the year. Full year operating expenses are estimated to range from $664 million to $674 million on a GAAP basis and from $585 million to $595 million on a non-GAAP basis. We estimate that full year gross margins on a GAAP basis will range from 89% to 90% with non-GAAP gross margins roughly about a point higher. Other income is estimated to be around $4 million for the year and the effective tax rate for the year is estimated to range from 24% to 26%. So now, I’d like to turn the call over to Kevin Yeaman, Kevin?
Kevin Yeaman, President and Chief Executive Officer
Thank you, Lewis and good afternoon everyone. We made good progress this quarter on our new initiatives that are aimed to delivering long term sustainable growth. At Dolby, we focus on creating and enabling to public experiences built on our audio, imaging and voice platforms. Most recently, we announced Dolby Cinema, a branded premium cinema offering for exhibitors and movie goes that combines spectacular image and sound technologies with inspired design. I’m going to talk to you more about this in just a few minutes as well as the momentum we have coming out of CES around Dolby Vision and Dolby Atmos for the home.
So let me start with an update on our audio licensing business. Broadcast grew 21% this quarter. We continue to extend our presence in digital broadcast, a large focus of our efforts is to drive the adoption of Dolby technologies in emerging markets where the transition to digital broadcast is underway. We are at good position in India where 12 of the largest operators use Dolby. Leading operators Hathaway and Den Networks began shipping HD set-top boxes with Dolby Digital Plus during the quarter. The number of HD channels broadcasting in Dolby continues to grow and this quarter, EPIC channel, a new Hindi entertainment channel launched in Dolby Digital Plus.
