<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the September 30, 1998 Financial Statements included in the Company's Form 10-Q and is qualified in its entirety by reference to such Form 10-Q. </LEGEND> <CIK> 0000931584 <NAME> UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC. <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> SEP-30-1998 <CASH> 175 <SECURITIES> 0 <RECEIVABLES> 12,309 <ALLOWANCES> (343) <INVENTORY> 16,806 <CURRENT-ASSETS> 30,816 <PP&E> 37,667 <DEPRECIATION> (2,800) <TOTAL-ASSETS> 65,945 <CURRENT-LIABILITIES> 7,629 <BONDS> 12,870 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 6 <OTHER-SE> 42,338 <TOTAL-LIABILITY-AND-EQUITY> 65,945 <SALES> 61,661 <TOTAL-REVENUES> 61,661 <CGS> 48,940 <TOTAL-COSTS> 48,940 <OTHER-EXPENSES> 3,625 <LOSS-PROVISION> 45 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 6,870 <INCOME-TAX> 2,542 <INCOME-CONTINUING> 4,328 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 4,328 <EPS-PRIMARY> .69 <EPS-DILUTED> .68