Although phonemic awareness is a well-known factor predicting early reading development, there is also evidence that Rapid Automatized Naming (RAN) is an independent factor that contributes to early reading. The aim of this study is to examine phonemic awareness and RAN as predictors of reading speed, reading comprehension and spelling for children with reading difficulties. It also investigates a possible reciprocal relationship between RAN and reading skills, and the possibility of enhancing RAN by intervention. These issues are addressed by examining longitudinal data from a randomised reading intervention study carried out in Sweden for 9-year-old children with reading difficulties (N?=?112). The intervention comprised three main elements: training of phonics, reading comprehension strategies and reading speed. The analysis of the data was carried out using structural equation modelling. The results demonstrated that after controlling for autoregressive effects and non-verbal IQ, RAN predicts reading speed whereas phonemic awareness predicts reading comprehension and spelling. RAN was significantly enhanced by training and a reciprocal relationship between reading speed and RAN was found. These findings contribute to support the view that both phonemic awareness and RAN independently influence early phases of reading, and that both are possible to enhance by training.