But the loss was an improvement from third quarter 1995's net loss of $10.7 million, according to a quarterly financial statement filed with the Securities and Exchange Commission.

Amfac, a big land developer and agricultural company, reported revenues of $27.4 million for the three months ending Sept. 30., up from $18.8 million in the year-earlier period.

For the first nine months this year, the company has lost $14.9 million, compared to a net profit of $15.8 million in the same period last year.

Amfac's 1995 results benefited from a one-time gain from paying down some of its debt last year.

Chris Kanazawa, Amfac's president, said the latest quarterly loss stems from the company's sugar operations, which have struggled, and the company's relatively high debt-service payments.

He said the company's property division has been very active recently. Amfac currently is seeking approvals for a 14-acre, beachfront time share project in Kaanapali, Maui and is working on a 550-acre master planned community project in Lihue, Kauai, Kanazawa said.

"This is really the foundation of what we trying to build," he said.

The company's property division grossed $8.3 million during the three months ending Sept. 30, up from third quarter 1995's $7.6 million.

Revenues from Amfac's agriculture division rose to $19.1 million during the latest third quarter, from $11.3 million in the same quarter last year.

The company said its costs and expenses totaled $29.7 million for the third quarter, up from $25.1 million in the year-earlier quarter.

As of Sept. 30, Amfac had assets at $517.4 million and liabilities of $653.1 million. Most of the company's assets, or $333.7 million, was in the form of land and buildings.

Once the state's largest company, Amfac is no longer a publicly traded corporation but its financial results were filed with the SEC by parent Northbrook Corp. Northbrook is affiliated with JMB Realty Corp., a privately held, Chicago real estate company that acquired Amfac in 1988.