SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                ----------------

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): July 24, 2007

                   Universal Stainless & Alloy Products, Inc.
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             (Exact name of registrant as specified in its charter)

           Delaware                   000-25032              25-1724540
  ----------------------------       -----------         ------------------
  (State or other jurisdiction       (Commission         (IRS Employer
   of incorporation)                 File Number)        Identification No.)


        600 Mayer Street, Bridgeville, Pennsylvania             15017
     -------------------------------------------------       ------------
         (Address of principal executive offices)             (Zip code)

      Registrant's telephone number, including area code:  (412) 257-7600

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):

|_|  Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)
|_|  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)
|_|  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))
|_|  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))





Item 2.02.  Results of Operations and Financial Condition.

     On July 24, 2007,  Universal  Stainless and Alloy  Products,  Inc. issued a
press release regarding its earnings for the second quarter ended June 30, 2007.
A copy of the press release is attached hereto.

     The information in this Current Report on Form 8-K,  including the attached
press release, shall not be deemed "filed" for the purposes of Section 18 of the
Securities  Exchange  Act of 1934,  as  amended,  or  otherwise  subject  to the
liabilities of that section, nor shall it be deemed incorporated by reference in
any filing  under the  Securities  Act of 1933,  as amended,  except as shall be
expressly set forth by specific reference in such a filing.


Item 9.01.  Financial Statements and Exhibits.

     (d)    Exhibits

     99.1   Press Release dated July 24, 2007




                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                  UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC.


                                  By:  /s/ Richard M. Ubinger
                                       --------------------------------------
                                       Vice President of Finance,
                                       Chief Financial Officer and Treasurer

Dated:  July 24, 2007