Certification of Gulfstream Aerospace’s two newest products — the large-cabin, mid-range G280 and the ultra high-speed, ultra-long-range flagship G650 — helped boost the Savannah-based business jet manufacturer’s revenues by 30 percent in the third quarter, even as parent company General Dynamics’ earnings slipped 8 percent, company chairman and CEO Jay Johnson reported Wednesday.

General Dynamics (NYSE:GD) posted third-quarter 2012 earnings of $600 million or $1.70 per share, compared to third quarter 2011 earnings of $665 and $1.83 per share. Company-wide operating margins were 11.4 percent compared to 12.7 percent in third quarter 2011.

The company’s total backlog at the end of third-quarter 2012 was $51.5 billion, and the estimated potential contract value was an additional $26.1 billion, representing management’s estimate of value under unfunded IDIQ contracts and unexercised options.

Demand in the quarter was particularly strong for Aerospace products, including orders for every type of Gulfstream aircraft. Significant defense awards included a $340 million order to procure additional Warfighter Information Network-Tactical (WIN-T) equipment for U.S. Army units, $70 million for 13,000 additional Handheld, Manpack, Small Form Fit (HMS) Rifleman radios and accessories, and a $395 million contract for engineering development efforts for modernization of the Abrams main battle tank.

“General Dynamics made notable progress on several core programs in the third quarter, including certification of the Gulfstream G650 and G280, and successful evaluations of key tactical communications systems leading to additional production awards,” said Jay L. Johnson, chairman and chief executive officer. “The entire team at General Dynamics remains focused on efficient execution and maximizing profitability.” 

Gulfstream’s total order backlog was $16 billion, with $15.8 billion of that funded.

Green aircraft are delivered to one of five Gulfstream completion centers to be fitted with interiors and painted before final delivery to the customer.

In a departure from recent years, domestic orders represented some 60 percent of Gulfstream’s year-to-date book.

“Gulfstream’s sales staff reported their best order quarter of the year, driven by several multi-aircraft deals in North America,” Johnson said. “This metric represents a resurgence of North American demand and some softening of international demand, driven by political uncertainty in some regions and the overall negative impact of the European debt crisis on global economic sentiment.”

Even so, Johnson said, Gulfstream’s international customer interest remains healthy across the board.

With an estimated wait time of five years for a G650 order placed today, and 18 months for a G450 and G550, the sales staff continued to book healthy orders for the G650 as well as all other models in the third quarter, he said.

All three aircraft are manufactured in Savannah.

“Looking to the fourth quarter, the Gulfstream team expects to see its strongest sales quarter of the year,” Johnson said, adding that deliveries of the first G280s and G650s to customers are “just weeks away.”

Green deliveries for 2012 are projected to include 24 G650s, 80 G450 and G550 models and 15-20 mid-cabin models, Johnson said.