Shares of Taylor Devices tumbled after the company reported lower sales in the fiscal first quarter.

Shares were down 17% at $50.81 in Friday morning trading. The stock has shed 13% this year.

The shock-absorption and energy-storage products maker on Friday reported a profit of $456,933, or 14 cents a share, in the quarter ended Aug. 31. That compares with a profit of $2.19 million, or 70 cents a share, a year earlier.

Sales fell to $7.3 million from $9.92 million.

Chief Executive Tim Sopko attributed the sales decline to orders arriving late in the fourth quarter, meaning that fewer were recognized as revenue in the first quarter. He said the company finished its fiscal year with a backlog of $52.8 million.

"This lower sales volume in turn negatively impacted our FY27 Q1 profitability with product sales mix, including new product development efforts, further challenging our margin performance in the quarter," Sopko said.