Increased expenses contributed to a $10 million drop in net income at DreamWorks Animation SKG Inc. for the third quarter when compared with the previous year. The Glendale-based animation studio reported net income of $37.4 million, or $0.41 per diluted share, on revenues of $151.5 million for the quarter ending Sept. 30. For the same period in 2007, the company had a net income of $47 million, or $0.47 per diluted share, on revenues of $160.8 million. The company attributed an increase by 26 percent of selling, general and administrative expenses to ongoing cost of new business initiatives. The studio’s big summer release “Kung Fu Panda” brought in $63.3 in box office receipts for the quarter, primarily from overseas. DreamWorks Animation also announced that co-founder David Geffen has stepped down from the company’s board of directors but will continue to own 5.76 percent of common shares and a 22 percent voting control.