I dont think so. You have to consider that US prices are always indicated without sales tax. Some states, like New Hampshire dont have sales tax (thank you NH, that made my iPad even cheaper

) but others do. FI its about 9% in New York. Anyway, with European prices you alreadt have to deduct about 19% sales tax, of which Nintendo of course wil not receive anything. If you deduct that you already get very close to the US price, so no Nintendo does not earn more per game in the US than in Europe.
Further, costs for companies like nintendo are higher in europe than in the us. The US is one big market with one language, here we have lots of languages, local rules and also higher costs for employees, transport etc.
They made Super Mario 3d land in Dutch, a pretty rare effort for a small language market (about 20 million people) and something like that is actually pretty costly if they do that in all those countries.
@Sonic, shame I missed that before my holiday to the US....
So, with that very small price difference there is VERY litlle advantage for a consumer in Europe to buy in the US, esp. if you consider shipping costs, eventually import duties etc.
So, this cant be the reason really and it only makes my brain hurt even more WHY they dont allow me to buy the 3DS in the US and the games in Europe.
It must be something with certain games not being released on certain regions etc.
Settler is right IMHO: Nintendo is on the path to oblivion.