I have just had the same problem myself.
If you do a search on *lightwave* you'll probably find the post.
I myself use lightwave 7.2 and have had serious difficulty with exporting. you'll have to let me know if 9 is any better and I might upgrade.
Anyway this is my usuall route although you might find 9 has better short cuts,
1.export object as .3ds ( you have to triple the object first and apply a UV map on the maps page).
2. Import into Milkshape.
3. Layout your model grouping whichever sections ready for UV mapping.
4.select type of UV mapping for each group.
5.Move your selections around on the UV map until happy.
6.IMPORTANT save your UV map AND your model.
7.Alter your UV texture.
8.Re-apply in milkshape
9.Once happy export as a .x
10.Load model in Darkbasic and apply texture..
This should work..If you find a better way plz let me know.
'Ooh 'eck chief'...'crumbs'