Nine children with severe-profound prelingual hearing loss and single-word reading scores not more than 10 months behind chronological age (Good Readers) were matched with 9 children whose reading lag was at least 15 months (Poor Readers). Good Readers had significantly higher spelling and reading comprehension scores. They produced significantly more phonetic errors (indicating the use of phonological coding) and more often correctly represented the number of syllables in spelling than Poor Readers. They also scored more highly on orthographic awareness and were better at speech reading. Speech intelligibility was the same in the two groups. Cluster analysis revealed that only three Good Readers showed strong evidence of phonetic coding in spelling although seven had good representation of syllables; only four had high orthographic awareness scores. However, all 9 children were good speech readers, suggesting that a phonological code derived through speech reading may underpin reading success for deaf children.