When you save an object, it will always be as LWO. If you wish to export a different format this group contains all.
OBJ
Export an object as OBJ. No limitations but surfacing doesn’t carry across though UV maps do. OBJs textured with image maps or numeric values in other packages will come in textured but Nodal or procedural textures will not translate in either direction. Autodesk’s Maya™ and Max™ reverse diffuse and ambient, so the default behavior of LightWave now is to Reverse Ka & Kd for OBJ export. If you find that textures are being transferred incorrectly, try switching this off on the OBJ tab of Options.
FBX
Export an object as FBX.
Smoothing Groups - Converts LightWave normals into 3ds Max smoothing groups
Scale Scene - Scales the object being exported to better deal with non-real world units
COLLADA
Export an object as DAE. No limitations but surfacing doesn’t carry across though UV maps do.
EPS
Export an object as an EPS document. This will give you a Top, Side and Front flat wireframe view of your object along with UV map, if any.
3DS
Exports an object in the .3DS format. This has a maximum of 64k triangular polygons.
3D Printing Support
Full support for 3D printing formats and a tutorial.
Curve to Motion
Takes a spline from Modeler and makes it into a motion path for Layout.
Motion Throw
Calculates trajectory and bounce on given item and inputs - output is a motion file for Layout.