  We present theoretical and experimental results on the generation and
detection of pulsed, relative-intensity squeezed light in a hot Rb87 vapor. The
intensity noise correlations between a pulsed probe beam and its conjugate,
generated through nearly-degenerate four-wave mixing in a double-lambda system,
are studied numerically and measured experimentally via time-resolved balanced
detection. We predict and observe about -1 dB of time-resolved relative
intensity squeezing with 50 nanosecond pulses at 1 MHz repetition rate. (-1.34
dB corrected for loss).
