Exhibit 99.1

For Immediate Release:

CONTACT:
Bob Husted	David Rosenthal
Director of Investor Relations	Chief Financial Officer
(303) 440-5330	(303) 440-5330

SpectraLink Grows Quarterly Earnings Per Share By 40% Year-Over-Year

BOULDER, Colo. – July 21, 2005 — SpectraLink Corporation (Nasdaq: SLNK), the leader in workplace Wi-Fi telephony, today reported revenue of $22.1 million and net income of $2.7 million, representing earnings of 14 cents per fully diluted share, for the second quarter of 2005. This represents growth in earnings per fully diluted share of 40 percent and growth in revenue of 10 percent over the same period a year ago. In 2004, second quarter net income was $2.0 million, or 10 cents earnings per fully diluted share, on revenue of $20.1 million.

For the six months ended June 30, 2005, revenue was $42.7 million with net income of $4.8 million resulting in 25 cents earnings per fully diluted share. For the same period a year ago, revenue was $39.4 million generating $4.1 million in net income and 21 cents earnings per fully diluted share.

“I am very pleased with SpectraLink’s accomplishments this quarter, including the strong quarterly earnings growth year-over-year, development and delivery of new devices, certification of additional WLAN infrastructure providers, and advances in the areas of standards and interoperability,” said John Elms, SpectraLink president and CEO. “We believe that we have the products, programs and partnerships in place to position us for strong growth in the second half of the year.”

David Rosenthal, SpectraLink CFO went on to say, “This was an active quarter for us with the repurchase of nearly $5 million of SpectraLink stock, paying a quarterly dividend of $1.9 million, and initiating the second phase of automating our business and revenue generation processes. In addition, our solid financial performance extended our series to 28 consecutive quarters of positive net income and 26 consecutive quarters of positive cash flow from operations.”

Webcast Information

SpectraLink will hold an audio webcast to discuss second quarter 2005 earnings results, today, July 21, 2005, at 4:30 p.m. Eastern time. You can access the webcast and replay at www.spectralink.com.

About SpectraLink

SpectraLink, the leader in workplace Wi-Fi telephony, delivers the power of mobile voice and messaging applications to businesses worldwide. Seamlessly integrating with VoIP and traditional telephony platforms, SpectraLink’s scalable technology provides instant access to people and business-critical information. SpectraLink handsets free on-premises employees to be more accessible, productive and responsive. For more information, visit www.spectralink.com or call 1-800-676-5465.

This release may contain forward-looking statements that are subject to many risks and uncertainties, including the inability to close several large orders in the sales pipeline; OEM agreements with SpectraLink that impact margins and may not result in increased future sales of SpectraLink’s products or services; adverse changes in economic and business conditions affecting

SpectraLink’s customers; the intensely competitive nature of the wireless communications industry, and a customer preference to buy all telephone communications systems from a single source provider that manufactures and sells PBX or key/hybrid systems; changes in rules and regulations of the FCC; and the anticipated growth of the market for on-premises wireless telephone systems. More information about potential risk factors that could affect our results is available in SpectraLink’s filings with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2004, and subsequent Form 10-Q filings.

SPECTRALINK CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

	June 30,			December 31,
	2005			2004
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	8,864		$	14,625
Investment in marketable securities — current		12,493			11,984
Trade accounts receivable, net of allowance of $338 and $374, respectively		14,250			21,252
Inventory, net of allowance of $543 and $720, respectively		11,587			8,076
Deferred income taxes		1,445			1,473
Prepaids and other		1,614			1,088
Total current assets		50,253			58,498
INVESTMENT IN MARKETABLE SECURITIES, net of current portion		33,436			27,781
PROPERTY AND EQUIPMENT, at cost:
Furniture and fixtures		2,692			2,481
Equipment		11,663			10,503
Leasehold improvements		1,162			1,036
		15,517			14,020
Less – accumulated depreciation		(10,255	)		(9,436	)
Net property and equipment		5,262			4,584
DEFERRED INCOME TAXES		145			103
OTHER		504			460
TOTAL ASSETS	$	89,600		$	91,426
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	2,325		$	1,132
Income taxes payable		999			1,038
Accrued payroll, commissions and employee benefits		2,356			3,727
Accrued sales, use and property taxes		685			732
Accrued warranty expenses		800			901
Other accrued expenses and liabilities		2,874			3,315
Deferred revenue		7,564			7,144
Total current liabilities		17,603			17,989
LONG-TERM LIABILITIES		187			214
TOTAL LIABILITIES		17,790			18,203
STOCKHOLDERS’ EQUITY:
Preferred stock, 5,000 shares authorized, none issued and outstanding		—			—
Common stock, $0.01 par value, 50,000 shares authorized, 23,659 and 23,407 shares issued, respectively, and 18,927 and 19,138 shares outstanding, respectively		237			234
Additional paid-in capital		79,983			77,356
Retained earnings		28,982			28,030
Treasury stock, 4,732 and 4,270 shares, respectively at cost		(37,392	)		(32,397	)
TOTAL STOCKHOLDERS’ EQUITY		71,810			73,223
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	89,600		$	91,426

SPECTRALINK CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands except per share amounts)
(Unaudited)

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2005		2004		2005		2004
NET SALES	$	22,111	$	20,125	$	42,699	$	39,438
COST OF SALES		7,628		7,367		14,931		14,215
Gross profit		14,483		12,758		27,768		25,223
OPERATING EXPENSES:
Research and development		2,489		2,303		4,946		4,368
Marketing and selling		6,508		5,709		12,563		11,660
General and administrative		1,547		1,593		3,129		2,810
Total operating expenses		10,544		9,605		20,638		18,838
INCOME FROM OPERATIONS		3,939		3,153		7,130		6,385
INVESTMENT INCOME AND OTHER		340		106		639		263
INCOME BEFORE INCOME TAXES		4,279		3,259		7,769		6,648
INCOME TAX EXPENSE		1,626		1,238		2,952		2,526
NET INCOME	$	2,653	$	2,021	$	4,817	$	4,122
BASIC EARNINGS PER SHARE	$	0.14	$	0.11	$	0.25	$	0.22
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING		19,040		19,090		19,130		19,010
DILUTED EARNINGS PER SHARE	$	0.14	$	0.10	$	0.25	$	0.21
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING		19,230		19,650		19,480		19,720

SPECTRALINK CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

	Six Months Ended
	June 30,
	2005			2004
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	4,817		$	4,122
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		819			771
Amortization of premium on investments in marketable securities		68			—
Income tax benefit from the exercise of stock options		475			588
Provision (recovery) for bad debts		(6	)		55
Provision for excess and obsolete inventory		327			220
Deferred income taxes		28			(228	)
Changes in assets and liabilities:
Decrease (increase) in trade accounts receivable		7,008			(471	)
Increase in inventory		(3,838	)		(2,889	)
Increase in other assets		(570	)		(459	)
Increase (decrease) in accounts payable		1,193			(19	)
Decrease in income taxes payable		(39	)		—
Decrease in accrued liabilities		(1,971	)		(484	)
Increase in deferred revenue		420			1,173
Net cash provided by operating activities		8,731			2,379
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(1,497	)		(1,019	)
Purchases of investments in marketable securities		(6,323	)		—
Net cash used in investing activities		(7,820	)		(1,019	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments under long-term obligation		(16	)		(17	)
Proceeds from exercises of common stock options		1,841			3,276
Proceeds from issuances of common stock		363			321
Dividends paid		(3,865	)		(3,825	)
Purchases of treasury stock		(4,995	)		—
Net cash used in financing activities		(6,672	)		(245	)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(5,761	)		1,115
CASH AND CASH EQUIVALENTS, beginning of period		14,625			51,861
CASH AND CASH EQUIVALENTS, end of period	$	8,864		$	52,976
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	$	2,495		$	2,291
SUPPLEMENTAL DISCLOSURE OF NON CASH INVESTING AND FINANCING ACTIVITIES:
Assets acquired under long-term obligation	$	—		$	21