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): April 24, 2008

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

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


             600 Mayer Street, Bridgeville, Pennsylvania               15017
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               (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 April 24, 2008, Universal Stainless and Alloy Products,  Inc. issued
a press  release  regarding  its earnings for the first  quarter ended March 31,
2008. 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 April 24, 2008






                                    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:  April 24, 2008