Taylor Devices shares fell in Tuesday morning trading after the shock-absorption and energy-storage products maker reported lower fiscal fourth-quarter and full-year earnings, citing delayed customer order placements.

Shares of the company were recently down 7% at $51.67.

The company reported fourth-quarter earnings of $1.87 million, or 58 cents a share, down from $3.69 million, or $1.17 a year earlier.

Sales fell 42% to $8.95 million from $15.6 million the previous year.

Chief Executive Tim Sopko said the lower sales were primarily due to customers delaying order placements, pushing the opportunity to convert those orders into sales beyond the fiscal year.

Despite the weaker results, Taylor Devices said its firm order backlog reached a record $52.8 million, with 92% tied to aerospace and defense products. The backlog includes a $19 million order, the largest single order in the company's history.