For F1Q net interest expense was approximately $389,000; other expenses were approximately $102,000. The adjustment for net income or loss of a non-controlling interest was a negative $12,000, and non-GAAP taxes were approximately $650,000. Non-GAAP income was $10.9 million or $0.12 per diluted share compared to $20.2 million or $0.21 in the preceding quarter.
Average diluted shares for F1Q for non-GAAP purposes totaled $94.2 million. Please note, unlike prior quarters, given the level of earnings this diluted share number does not include the impact of converting the principal amount of our expanded convertible notes debt for the purposes of calculating EPS as the convertible notes are anti-dilutive to EPS at the current earnings levels; and therefore you do not need to add back the interest expense and other costs associated with the aforementioned convertible notes in calculating diluted EPS for the quarter.
The sum of net interest expense, other expenses and the adjustment for net income or loss of a non-controlling entity is expected to be a deduction of approximately $750,000 to income in F2Q 2013 compared to $500,000 in F1Q 2013. Non-GAAP taxes are estimated at approximately 5.5% of non-GAAP pre-tax income for the remaining quarters of F2013. In F2Q weighted average fully diluted shares are expected to be approximately 98.5 million for non-GAAP purposes as we expect the convertible notes will again be dilutive given our higher earning expectations for F2Q.
Non-GAAP EBITDA decreased $9.3 million to $24.9 million or 11.3% of revenues compared to $34.2 million or 14.2% of revenues in the preceding quarter. F1Q capital expenditures totaled $15 million which is lower than our prior guidance of approximately $23 million. This was the result of a slight delay in the timing of some major expenditures related to the new manufacturing facility we are building in [Wousho], China. We still expect the building to be completed in the second half of calendar 2013. Capital expenditures are expected to be approximately $22 million in F2Q 2013.Read the rest of this transcript for free on seekingalpha.com