Level One Communications, Incorporated designs, develops and markets mixed-signal application specific standard product ("ASSP") integrated circuits. The products are used for high-speed digital signal transmission and networking connectivity to systems that transport information, within an office or around the world. The company's ASSP's transmit, regenerate and receive digitized voice, data and video signals using a wide variety of protocols. The company's current products address the needs of two primary segments of the communications connectivity market: the networking market and the telecom market. Networking products address the rapid evolution of the LAN networking connectivity markets. Telecom products service the growing demand for high-speed digital signal transmission utilizing the industry-wide specifications referred to as "T1" in North America and "E1" in Europe, Asia and much of the rest of the world. The company has operations in the United States, Europe and Asia. Networking products accounted for 67% of 1998 revenues; telecommunications, 32% and other, 1%.