On July 12, 1998, approximately 1020 mountain daylight time, a Peebles/Lancair 360 LC-20, N360P, was substantially damaged during a hard landing at Carbon County Airport, Price, Utah. The commercial pilot and his passenger were not injured. The airplane was being operated by the pilot under Title 14 CFR Part 91. Visual meteorological conditions prevailed for the local flight which originated approximately 20 minutes before the accident. No flight plan had been filed. According to the pilot, while flying the approach to a landing, "the decent rate got to [sic] high and I failed to arrest it with power in time." The airplane impacted the runway and the right main gear "snapped off." The pilot reported that he was able to keep the airplane on the runway for approximately 1,500 feet before it ground looped. Subsequently, the fuselage, lower cowling, and right flap were damaged.