Thanks to all for such detailed answers. My child likes to do things really, really fast - he is crazy about doing things fast and extremely proud of his ability to finish tasks quickly - but when he is faced with an unfamiliar task, he does not know how to proceed and needs to think and come up with a strategy and he slows down remarkably in those situations and he gets very frustrated with himself. He is also a perfectionist and sometimes refuses to do anything that he knows will result in an imperfect outcome. We are working on his perfectionism issues.
I chalked the low processing speed in the results up to immaturity on my child's part. Though I never thought that a processing speed in the 80 percentiles could be a symptom of a LD, it is worth checking out. While writing, he has letter reversals (at age 5) and a horrible handwriting due to fine motor control issues and hates to write and color. He is also diagnosed as color blind.
Now, I will wait until he is a little older and use a neuropsychiatrist administered test as suggested above to see what the outcome is.
Thank you all for your thoughtful responses.
