Following a boffo 2010, and a hopping January, box office is down for the first quarter in Italy where local titles are still going strong, while Yank fare — both Hollywood and indie — has been underperforming.

“Sucker Punch,” “Drive Angry,” “The Next Three Days,” “Just Go With It,” “No Strings Attached,” “Never Let Me Go,” “The Kids Are All Right” and “Greenberg” are all titles that punched below their weight in Italy, while “The King’s Speech,” which pulled more than $12 million, and “Black Swan,” at $9 million, are notable exceptions.

And, as always in Italy, those distribs that, unlike Medusa and RAI Cinema, aren’t sister companies to broadcasters, are largely reliant on a pic’s theatrical performance since TV sales are scarce, as are revenue streams from other ancillary markets.

Total 2010 box office: $1.06 billion
Total 2010 releases: 380
Top 2010 indie film: “Benvenuti al Sud” (Welcome to the South), $43 million (Medusa)
Top 2011 indie pickups:
“The Dinosaur Project,” Eagle Pictures
Sex and Zen,” Lucky Red
“The Wrong Picture,” Medusa