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): September 17, 2002


                   Universal Stainless & Alloy Products, Inc.
             ------------------------------------------------------
             (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






Item 5.     Other Events.

         On September 17, 2002, Universal Stainless & Alloy Products,  Inc. (the
"Company")  announced that it had reduced its third quarter  earnings  estimate.
The press release,  dated September 17, 2002, issued by the Company with respect
to the change in its earnings estimate is attached hereto as Exhibit 99.1 and is
hereby incorporated herein by reference in its entirety.

         The foregoing  description is qualified in its entirety by reference to
the complete text of the press release as set forth in Exhibit 99.1.

Item 7.     Financial Statements and Exhibits.

          (a)     Not applicable

          (b)     Not applicable

          (c)     Exhibits

                  Exhibit 99.1 Press Release dated September 17, 2002.














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                                    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:  September 17, 2002













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                                  EXHIBIT INDEX
                                  -------------


          Exhibit 99.1 Press Release dated September 17, 2002.


















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