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We also released new versions of our dev tools products for both the. Turning to our AppDev segment, although Q4 revenue was down slightly year over year, maintenance renewal bookings for both dev tools and Sitefinity were strong during the quarter, which provides us with a good start toward our revenue objectives for fiscal 2019. These conferences are a great way for us to share our vision for the future and to get valuable feedback from users who rely on our OpenEdge technology, and release 12 received extremely positive reactions from the attendees. Our annual OpenEdge user group conferences were held in both India and North America during Q4 with over 700 partners and customers gathering for sessions led by industry and community professionals as well as experts from Progress. Our OpenEdge community remains engaged and vibrant, and are committed to our technology, including this upcoming release. It also includes expanded modernization capability, making it even easier for our existing partners to continue to evolve their applications and utilize value-added capabilities such as Kinvey as they further advance their technology roadmaps.
This latest version features improvements in availability as well as a 3x improvement in database performance that will dramatically lower the total cost of ownership for our OpenEdge partners and customers. That is why I'm thrilled to report that OpenEdge 12.0, the next major release of our flagship product, is currently in its early access program with an expected release date during Q1. And by keeping our OpenEdge technology current is critical to that effort. Our high renewal rates are driven by the continued success of our customers and partners. Maintenance renewal rates were again well over 90% for both our ISVs and enterprise customers, an important measure of the stability and strength of the business as well as the overall satisfaction of our OpenEdge customer base.
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Again, led by those partners who offer their applications in a SaaS model.ĭeals of these cloud-based applications now represent $25 million in recurring annual revenue for us with growth of 8% in Q4 and 13% for the full year.
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License sales to our ISVs grew in Q4 and for the full year. The better-than-expected performance during the quarter from both our ISV partners and direct enterprises enabled us to achieve flat revenues for the full year on a constant currency basis, consistent with our goal of keeping our flagship business healthy. I'm pleased with the level of OpenEdge license sales in Q4. Let's now take a look at each of our businesses, starting with our OpenEdge segment. With our dividend increase in Q3, we returned over $16 million to shareholders during Q4 and almost $150 million for the full year through the combination of dividends and share repurchases. Our ability to produce consistent cash flows enables us to invest in further strengthening our business while still returning meaningful amounts of capital to our shareholders. We continue to generate strong cash flows, which is further evidence of our disciplined operating approach. We accomplished this while at the same time making the investments needed to take advantage of the longer-term growth opportunities we see in modern application development. Operating margins were 40% for our typically strong fourth quarter and 38% for the year as we remain focused on running our operations efficiently. Earnings per share grew by 13% year over year in Q4 and by 30% for the full year. The overperformance was driven by our OpenEdge segment with both our ISVs and direct-end users, delivering a higher-than-anticipated license sales during the quarter. Our revenue and earnings per share for Q4 were both above the high end of our guidance range, providing a strong finish to a solid financial year.
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I want to first walk you through the highlights of our financial results for the quarter and the full-year 2018, and then provide an update on our business and goals for fiscal 2019. Welcome to our fourth-quarter conference call. Thank you, Brian, and good afternoon, everyone. Before we get started, I'd like to remind you that during this call, we may discuss our outlook for future financial and operating performance, corporate strategies, product plans, cost initiatives, or other information that might be considered forward-looking.
With me today is Yogesh Gupta, president, chief executive officer and Paul Jalbert, our chief financial officer. Good afternoon, everyone, and thanks for joining us for Progress Software's fiscal fourth-quarter 2018 earnings call. Please go ahead, sir.īrian Flanagan - ice President, Treasury and Investor Relations At this time, I would like to turn the conference over to Brian Flanagan.
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Good day and welcome to the Progress Software Corporation Q4 2018 investor relations call. Progress Software ( NASDAQ:PRGS) Q4 2018 Earnings Conference Call Jan.
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