  We describe the transport properties of a point contact under the influence
of a classical two-level fluctuator. We employ a transfer matrix formalism
allowing us to calculate arbitrary correlation functions of the stochastic
process by mapping them on matrix products. The result is used to obtain the
generating function of the full counting statistics of a classical point
contact subject to a classical fluctuator, including extensions to a pair of
two-level fluctuators as well as to a quantum point contact. We show that the
noise in the quantum point contact is a sum of the (quantum) partitioning noise
and the (classical) noise due to the two-level fluctuator. As a side result, we
obtain the full counting statistics of a quantum point contact with
time-dependent transmission probabilities.
