UPDATE 4-Flu fears boost Clorox profit; tops Street view

* Q1 EPS $1.11; analysts' view $0.95

* Sales fall 0.87 pct to $1.37 bln, just above Street view

* Raises FY view to $4.05-$4.20/share from $4.00-$4.15

* To launch natural Burt's Bees toothpaste in January

* Shares up 0.5 percent in afternoon trade (Adds comments from company, Greenpeace; updates stock)

By Jessica Wohl

CHICAGO, Nov 2 (Reuters) - Strong sales of disinfecting products spurred by the H1N1 flu pandemic helped Clorox Co (CLX.N) post a bigger-than-expected quarterly profit and raise its full-year forecast, sending its shares slightly higher.

The maker of household goods such as Clorox bleach and wipes as well as Glad trash bags said lower commodity prices, cost cuts and price increases also boosted results.

"H1N1, that's the name of the game," said UBS analyst Nik Modi. "That's what really helped them with the upside."

H1N1, or swine flu, drove 2 percentage points of sales growth in the quarter, Larry Peiros, chief operating officer of Clorox North America, said during a conference call.

Overall sales fell less than 1 percent to $1.37 billion, coming in just ahead of analysts' expectations.

Clorox is the latest in a string of companies to benefit from flu-related sales. Ecolab Inc (ECL.N) saw strong demand for sanitizer in its latest quarter. [ID:nN27234482]. 3M Co and Kimberly-Clark Corp reported increased sales of face masks. [ID:nN22177970] Drugstore Walgreen Co (WAG.N) saw sales rise after giving more flu shots at its pharmacies. [ID:nN02313508]

Clorox, like many other companies, ramped up production to meet increased demand. While Clorox is seeing continued high demand for disinfectants as the flu season progresses, it expects some drop-off in demand in the future.

Clorox earned $157 million, or $1.11 per share, in the fiscal first quarter, up from $128 million, or 90 cents per share, a year earlier.

Analysts had expected earnings of 95 cents per share in the quarter, which ended on Sept. 30, according to Thomson Reuters I/B/E/S.

Shares of Clorox were up 0.5 percent to $59.50 in afternoon trade after jumping as much as 2.4 percent.