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): March 24, 2009

                   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 7.01.    Regulation FD Disclosure.

     On March 24,  2009,  Universal  Stainless  and Alloy  Products,  Inc.  (the
"Company")  issued a press  release to announce its  revision of its  previously
announced  guidance for the first  quarter of 2009. A copy of this press release
is attached hereto as Exhibit 99.1.

     The  information  in  this  Current  Report  on  Form  8-K,  including  the
information  in  the  attached  press  release  regarding  the  revision  of the
Company's previously announced guidance for the first quarter of 2009, 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 March 24, 2009






                                    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:  March 24, 2009