Cal-Maine Foods Inc., the renowned egg producer, has revealed that its fiscal third-quarter earnings managed to rise by 12%, mainly on the back of strong retail egg sales and declining feed costs.

On the back of slow food service and lesser sales at restaurants, egg producer Cal-Maine Foods Inc. posted a lower than expected earnings report for the current fiscal year's second quarter. A lower sale of egg products was also one of the reasons for falling profits.

Cal-Maine Foods Inc., primarily engaged in the production, grading, packing and sale of fresh shell eggs, has entered into an agreement to acquire the egg production and marketing assets of Florida-based Tampa Farm Service, Inc.

However, the company did not disclose the transaction value.